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Dollar gets weaker and weaker
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| An Editorial |
November 17, 2009 |
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Current Washington policy and spending has driven the value of the U.S. dollar so low that Thailand, South Korea, Russia, the Philippines, and other nations are trying to bolster it.
Even China, who's currency value is managed by the Communist government to artificial standards and not allowed to float as is the rest of the world's money, is taking steps to strengthen the American dollar.
The reason American money is in bad shape right now is because of White House and Congressional fiscal policy. President Obama is spending and borrowing money at unprecedented rates, driving our national debt to a previously unthinkable level. Congress is currently working to add additional trillions to our record debt. Foreign investors are very uneasy about the financial strength of the United States. Americans with any knowledge and understanding of our country's fiscal situation are terrified.
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©The Democrat 2010
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