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Your article "Who's the Biggest Spender?" (March 22, 2004 issue) was right on the money. It shows a steady increase in our runaway national debt, and the only certain prediction I can make is more of the same at an accelerating rate, no matter whether Bush or Kerry wins next November.
The giant federal deficit is mirrored in our deficit of trade. Japan and China buy huge quantities of U.S. Government debt every year, thus propping up the dollar, buying the complicity of our government, creating the illusion of minimal inflation, continuing the exportation of our industries and postponing the realization that our nation has been beggared.
The recent decline in the dollar is ...
Source: HighBeam Research, Runaway debt.(Letters to the Editor)(Letter to the Editor)