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Reader's view: Americans need to return to rational economic choices

Americans need to return to rational economic choices I think it is time for our country to get back to basics. Our national debt is more than $10 trillion. Our personal savings rate is minus, meaning we spend more than we make, thanks to credit ...

Americans need to return

to rational economic choices

I think it is time for our country to get back to basics. Our national debt is more than $10 trillion. Our personal savings rate is minus, meaning we spend more than we make, thanks to credit cards. And we have outsourced a good share of our manufacturing base. The biggest consideration for building new high schools is finding enough area for student parking lots. The trade deficit is allowing foreign investors to buy large percentages of our businesses.

We can turn it around, but it is going to require making hard choices.

To pay down the national debt is going to require more tax money going in than expenditures going out. If foreign investors, upon whom we depend to buy these securities, stop buying them, we will have to raise interest rates in order to encourage it. This will in turn worsen our already depressed economy.

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Americans can get over the drive-through lifestyle. What is wrong with walking into a bank? Bike or walk instead of making short vehicle trips. It will improve both the economy and your health. In fact, if the U.S. really is in a war on terrorism, why not do what we did during World War II? Ration gas. It would help our trade deficit and global warming.

There seems to be a lot of blame laid upon Wall Street for the economic meltdown that we are experiencing. I agree that hedge fund managers shouldn't make $4 billion dollars a year. However, some blame must land on those people who jumped on the housing pyramid scheme, buying houses in order to flip them at outrageous profit. Meanwhile, the majority of Americans will suffer because of the resulting mortgage-driven economic disaster.

Gary J. Lillesve

Grand Rapids

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