Carson is uninformed about money management

The Gazette Opinion Staff
Published: April 2 2014 | 1:23 pm - Updated: 7 April 2014 | 3:05 pm in

Ben Carson’s March 13 column, “The profligate path to servitude,” shows he is uninformed about money management. Money is created through debt and destroyed when debt is repaid. If all debt is repaid as Carson wants, we would have no money to operate the economy. Question. Why do we borrow money when we can print it?

The Federal Reserve is creating billions of dollars a month and people or countries are snapping them up for less than 1 percent interest. The fed can destroy those dollars just as fast. So, who has a problem?

Carson is concerned about the debt we owe Russia. Russia sold us goods and we paid for them with IOU dollars. Russia can either buy goods from us with them or sit on them. So, where is our problem?

Carson wants us to fear the government. The government is the people. If we are to hate and fear anything, it should be the corruption caused by corporations with campaign contributions. Corporate quest to destroy health, safety and environmental laws and gain subsidies from the taxpayers is never ending.

These billionaires are not pouring their money into political races because they are worried about your health care. They are worried about having to pay more wages and taxes.

Dean E. Owens

Palo

 

Have you found an error or omission in our reporting? Is there other feedback and/or ideas you want to share with us? Tell us here.



Featured Jobs from corridorcareers.com