National debt continues to outgrow economy’s growth
The national debt just eclipsed $30 trillion. It needs to be analyzed in light of annual revenue and expenditures. Last year, the federal government raised $4 trillion and spent $6.8 trillion. Ah, the pandemic. Yes, but the Congressional Budget Office sees annual deficits (that turn into additions to the debt, in rough terms) averaging over $1 trillion per year for the next 10years. And, the debt is is expected to continue to outgrow the economy’s growth rate.
Public debt is $24 trillion, and the Fed owns $6 trillion of it via quantitative easing (i.e., money printing). The printer will allegedly be put on hold soon to quell inflation. At $18 trillion of public debt, an average Treasury rate of 5 percent would produce interest of $900 billion -- insurrection material. So, rates must stay low.
Bond rates and CD rates will stay low, very likely being exceeded by inflation rates, at least in the near term. Of course, all this is due to our growing national debt that wasn’t worth a mention in the paper when it hit $30 trillion.
ALLEN BUCKLEY, ATLANTA
Abortion restrictions are not racist
In the news story “Minority women most affected by abortion restrictions” (Around the world in 80 seconds, Feb. 2), the AP proclaims, “in Mississippi, people of color comprise 44% of the population but 80% of women receiving abortions.” But in case any ambiguity remains, the article quotes an abortion industry supporter concluding (in genuine CRT fashion) that “abortion restrictions are racist.”
However, left unstated is that, by definition, 80% of Mississippi’s aborted unborn were to be people of color. Therefore, perhaps the AP can explore in another article why the (supposedly) racist pro-life movement is so dedicated to preserving Mississippi’s unborn, given that a large number of them would have been minorities? Did AP writers consider the possibility that the pro-life movement wants to prevent the execution of all unborn, regardless of race (as hinted by the last paragraph, for anyone who read that far)?
ROGER PALMER, MCDONOUGH
