Dollar is losing worldwide status

Published 10:37 am Friday, December 6, 2013

On Oct. 14, California Sen. Barbara Boxer compared conservative House GOP members to those who commit domestic abuse. She is referring to the action by those conservatives who warn America that Obamacare is a brilliant, cynical and deliberate attempt to damage our economy and kill jobs rather than be uninsured.

What Boxer is hiding from us is that an increase in debt load creates an erosion of confidence in United States Treasury bills. This has a negative impact on the long-term solvency of the United States of America. People in positions of power in China and Japan are now questioning why our government leadership refuses to reduce our out-of-control spending. We cannot kick the can down the road any longer.

Sen. Boxer and her cohorts must realize that labeling conservatives as domestic abusers will not create a stronger dollar. Instead the dollar will continue to lose value resulting in a financial panic that will have a devastating impact on our youth, middle class and retirees.

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Robert Dahlquist
Orange, Calif.