Letter to the editor

WXIITribune News Partner

January 5, 2013

Debt? Is it true that the US owes $16 trillion to its creditors? Is it true that’s 16 times 1000 billion? Is it true that we’re paying very little now, but when rates return to normal, interest alone will consume most of our GNP? Is it true that we’re paying our debt by printing lots of worthless money? Will this lead to inflation like we’ve never imagined? Is it true that Germany destroyed itself with worthless money and hyperinflation? Or are all these fears just more baloney from the Political Right ?

Richard Merlo