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Deficit spending must stop

October 20, 2012
Larry Park, Marshalltown , Times-Republican

We hear a lot of political campaign rhetoric this year. One political party accuses the other of cutting the budget while the other party offers a plan that will not cut the budget. Our country has a deficit of more than 16 trillion dollars. It seems to me that each political party should offer a budget that cuts spending. It seems to me that if we do not stop adding to our federal deficit, there may be dire financial consequences (refer to Greece, Spain and some California cities).

Let me use a personal experience about the consequences of poor financial management. I was employed by Fisher Controls for 28 years before retiring in 2009. About 2004, I compared my Fisher prescription benefits with a co-worker. At the time, the Fisher co-pay was $10 per prescription. My co-worker said she did not take advantage of the Fisher insurance but instead was on her husband's insurance plan which had a $2 prescription co-pay. He worked for Maytag in Newton. We all know what happened to Maytag.

We need to strongly encourage our lawmakers and president to start cutting the federal deficit with the next presidential administration. I fear the financial consequences that we will face if the federal government does not stop deficit spending.

 
 

 

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