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Published: Wednesday, Oct. 14, 2009 / Updated: Friday, Oct. 30, 2009 11:16 AM

We're losing our freedom

Dear Editor,

Margaret Thatcher once said, “The problem with socialism is eventually you run out of other people's money.”

Well, guess who? Our government has already run out of money. We now have a $9 trillion, 10-year budget deficit, and this figure doesn't include health care reform that is projected to add another $1 trillion (plus) to the deficit.

It is also impossible for any of us to comprehend this amount of money. Nine trillion dollars is nine thousand billion dollars. When it is written it looks like this: $9,000,000,000,000.

This deficit exceeds more than the sum of all previous deficits since America's founding. It is predicted that the end of the next decade, the national debt will equal three-quarters of the entire Untied States total economy. The federal government will borrow 46 percent of what it spends this year.

I am no economist, but I am a businessman, and what this tells me, as our government expands its power, we as citizens are in danger of losing more of our freedom. It also tells me that our free enterprise, capitalistic economy, the economic system that has made America the envy of the world, is in serious trouble.

Most businesses in America are struggling to make a profit. Many companies are losing money and many have declared bankruptcy. All businesses are cutting every expense possible, including reducing employees, and reducing hours, just to remain in business.

If this trend continues, how will jobs be created in the future? If manufacturing jobs continue to move offshore (and they will if cap and trade passes) and if businesses, and industries, fail to make a profit, they will pay no taxes. This means less money going to the IRS. Add to this, the millions of people out of work, they will also pay very little in taxes.

My question is, where is the government going to get the money to pay off this exploding deficit? The government says it will come from the rich, but in reality, taxing the rich more would pale in comparison to the national debt. My prediction is this; it will come from you and me. We will see new taxes that no one has ever dreamed of before.

If all of the above debt is not enough, just wait until the government takes over 1/6 of our nation's economy with government healthcare; just wait until our government takes control.

Every government run entity is in serious financial trouble (Social security, Medicare, Medicaid, Welfare, and Amtrak). You name it. The U.S. Postal Service just announced last week that they lost $2.4 billion during the third quarter and their projected loss for this year, alone, will be $7 billion. Add to this, cap and trade and health car, and the deficit will continue to mount to the point that the dollar will lose more of its value, and inflation will be our next big enemy.

As a proud American, having lived in this wonderful country for 81 years, I am, for the first time in life, afraid of what is happening yo our great nation. I see more and more government control and I see our freedom and liberty, being taken away. It is very scary.

C.D. “Budder” Gregory

Lancaster