OPINION:
Over the past 20 years, president after president and Congress after Congress have approved annual budget deficits now accumulating to a public debt of 124% of GDP. It’s baffling to have adopted such a myopic monetary policy and rejected the sounder approach of not trespassing the threshold of 70%, practiced since the end of World War II.
Most Americans want a great and strong United States. However, by delaying serious action to reverse the deficit hemorrhage and continuing to increase the debt, we will not only further weaken the dollar, we will erode U.S. military power, too. Many countries have already taken steps to reduce or eliminate their reliance on the dollar.
Actions speak louder than words.
PAUL GOFFIN
McLean, Virginia
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