52°
Rain
THU
 56°
 50°
FRI
 58°
 47°
SAT
 57°
 50°
SUN
 63°
 48°
MON
 65°
 46°

Letter of the Day: Public debt

<b>Public debt</b>

EDITOR: The Press Democrat printed about a 1,000-word article on page A4 on Thursday noting that the California debt is now $8,500 per resident. Given the implications for every California resident of such debt, the article should have been featured on the front page.

A few other facts might have been included: The $17 trillion national debt equals $53,627 per resident; the estimated $144 trillion national unfunded liability equals $454,258 per resident; the $780 billion per year being printed by the Fed, which is a consortium of New York banks having no connection to the federal government, equals $2,460 per resident or $9,840 per family of four.

The "1 percent" paid 50.6 percent of California state income taxes in 2012, which implies a powerful incentive for these folks to leave the state, thus raising the 8.1 percent unemployment rate and the rest of us to pay the above cited per-resident bills.

ROD HUG

Santa Rosa


comments powered by Disqus
© The Press Democrat |  Terms of Service |  Privacy Policy |  Jobs With Us |  RSS |  Advertising |  Sonoma Media Investments |  Place an Ad
Switch to our Mobile View