U.S. finances are a wreck

Recently it was announced that we are now in our 12th year of war in Afghanistan without any means to pay for this astronomically expensive endeavor. We as a nation have paid for these most expensive wars in our history by borrowing money from China, a nation once deemed to be an enemy of our way of life.

The cost to service this loan now takes a large portion of our national product without any return, as the money spent may as well have been for fireworks.

In all previous wars, taxes were raised as a national sacrifice, and the rest of the costs were paid for by borrowing from the American people using war bonds – the interest not paid out to a foreign nation, but back to the people of our country.

To use this method of using a credit card from another nation to support wars was, at the very best, stupid, and, at the worst, criminal.

The pushing for banks to give millions of new loans for trillions of dollars borrowed from bundled mortgages – again sold to other nations – was another stupid idea with no understanding of what would be done when the bills came due.

Michael Ferguson

Augusta

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