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Democrats, Republicans should work together to solve national debt

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By Monday, Jul 30, 2018 Letters 2

To the editor:

“True individual freedom cannot exist without economic security and independence.” — a quote by President Franklin Delano Roosevelt

Most people would agree with the concepts outlined in Franklin Delano Roosevelt’s quote above: the aspiration for individual freedom, economic security and independence. Where many people disagree is merely the best strategy to achieve the worthy goal. The old adage comes to mind: “Is it better to give a person a fish a day, or is it better to teach a person how to fish?” Democrats seem to favor the former; Republicans seem to favor the later. Democrats seem to aspire to equal outcomes through government intervention; Republicans seem to aspire to equal opportunities with limited government intrusion.

Oddly enough, most parents, Democrats and Republicans alike, make a concerted effort to raise their children with the values, skills and work ethics necessary to become independent, resourceful and successful young adults; they teach them how to fish. The overriding parental instinct is to ensure your child can leave the nest and thrive independently without your assistance not because you lack compassion, but quite to the contrary; it is because you are compassionate.

Likewise, a compassionate nation does not root for failure on any level: legislation, cabinet appointments and, most especially, the office of the presidency — “united we stand; divided we fall.” Living under a constitutional republic comes with the privilege to vote and the responsibility to accept the outcome of the vote, as we are a nation of laws. The Constitution limits the power of each officeholder and protects the rights of minorities from the tyranny of the majority; it is a worthy effort to uphold it and rise to the occasion to encourage others to do so, as well.

The United States has not been a good steward of the world reserve currency. We reneged on our Bretton-Woods Agreement when we removed gold as the collateral behind our currency in August 1971. We have engaged in debt monetization after the financial crisis of 2008; therefore, many foreign central banks have steadily reduced their purchases our U.S. treasuries and this is how we fund our government. The petro dollar is in a slow decline, while the petro yuan is on the rise.

Sen. Elizabeth Warren, D-Massachusetts, has great expertise in the field of economics. She is a member of the Senate Committee on Banking, Housing, and Urban Affairs. She is a ranking member of the Subcommittee on Financial Institutions and Consumer Protection; the Subcommittee on Economic Policy; and the Subcommittee on Securities, Insurance, and Investment. As the Global Currency Reset is currently being negotiated among nation states, it would have been instructive to hear from Sen. Warren on this topic during her recent visit.

When you have over $21 trillion dollars in debt and other sovereign nations do not wish to purchase your bonds, I’m not sure you can afford the vitriol and infighting in Congress. It might have more merit for both Democrats and Republicans to reach out across the aisle and become proactive in solving our real problems. If, as citizens, we hope to maintain our “individual freedom, security, and independence,” we will first have to make a concerted effort to work together and prioritize the national interest above our own self interest.

Lucinda Shmulsky
New Marlborough



2 Comments   Add Comment

  1. John says:

    Very nice letter to the editor.
    The only problem is that Elizabeth Warren, like most Democrats, are always in favor of raising taxes and government spending. That means even yet more debt. More debt, not good.
    Government cannot be everything to everybody.

  2. Lucinda Shmulsky says:

    Yes, I concur the debt doubled under the Obama administration, but the Republicans have not been fiscally conservative either.
    https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm
    http://www.usdebtclock.org/

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