It’s economics 101

Published 3:02 pm Tuesday, April 21, 2009

There was something in the air on April 15 in front of the Florida State Capitol in Tallahassee.

Twenty-five-hundred (my estimate) good, clean-cut, hard-working people were there to protest unbridled spending by Congress and the mortgaging of our grandchildren’s economic future.

Becky and I ran into Pat and Marl Ward at the Tea Party. Marl is a great friend and we graduated from Bainbridge High School in 1953. Marl is a good example of the kind of people that were at the Tea Party. Marl served his country in the Marines and is a very successful, self-made businessman—he didn’t have one thin dime at the start. He built the Red Barn in Bainbridge with his own hands and worked other jobs to help pay for the land and buildings. Marl later moved to Tallahassee, built the Red Barn on Capital Circle, etc. He has a fine family, pays his taxes and has never asked the government for anything.

These are the kind of people that most of Congress, CNN and Oberman and Company at MSNBC want to depress.

I wish Allen Boyd, my congressman from Monticello, Fla., had been there to see how the people that work hard to pay the taxes feel about the debt load that is being put on their shoulders.

Congressman Boyd votes lock-stop on spending for entitlements and non-stimulus stimulus with Barry Frank, Pelosi, Reed, Dodd and Waters. They don’t seem to realize or don’t care that this debt is going to have the same effect on the whole economy as subprime loans has on the housing industry. It’s only common sense, living within our means and economics 101.

They have no regard for the $1 trillion that it’s going to take to pay the interest on new debt in just a few short years. The principal will never be repaid.

Spending on both sides of the aisle has got to stop before it’s too late, and I hope it’s not already too late. Much damages has been done in the last three months adding to the damage that was all ready done by Congress mandating 100 percent mortgages with no controls over banks and other lending institutions, a la Barry Frank.

A concerned citizenJack G. Rich