I'm not an economist, but I am concerned--having watched over the many years--the frequent financial crises, the steady inflationary trend and the increasing national debt. Private corporations seem to find ways to improve their financial picture--they try Chapter 11 protection, increase capital investment, or they sell part of their assets.
Why can't the United States do something similar--paying off its debts over a period of years by selling or leasing more of its assets or by printing necessary money?
Increasing money available (decreasing debts) would lead to decreased interest charges, and more money would be available for spending, for loans (banks would have more money) and salaries would increase.
The need for taxes would be decreased, and a manageable budget could be established.
Of course, this may lead to nationalization of banks (possibly with lease-back arrangements, giving the government more control).
After all, whose money is it we're spending? Whose money are the banks "playing" with?
Are we bankrupt?
Or, do we have enough assets? I think we do.
SAMUEL V. ABRAHAM
All we have to do to trim the deficit is to cut Congress' pay and certainly tax or get rid of all their goodies and super retirement plans.
They want everyone else to pay, except themselves.
This would be a start.
A One-Way Street
Regarding "Bank Card Finance Fees Don't Seem to Add Up" (Jan. 7), with banks and department stores, if you don't make your payment on time, you're charged a "finance charge."
But when people do business with the banks and department stores and they don't pay on time, they say it's because the computers don't work right or because invoices get lost.
They have lots of reasons!
Letters to the Business Editor should be as brief as possible and are subject to condensation.