I take exception to your editorial’s assessment of the state of our economy, that it is good (“It’s the economy, stupid ... uh-oh,” Oct. 22).
It may seem that way on the surface, but underneath, the policies of the current administration are exacerbating bubbles that do not bode well and have led to a deficit that is again out of control.
The fed keeping interest rates artificially low encourages borrowing. Consumer debt per household is approaching the levels of the months leading up to the Great Recession, as is corporate debt. Student debt is twice what it was in the lead-up to the Great Recession.
I am conservative when it comes to managing my family’s finances. I expect government to be the same. Conservative fiscal policy would dictate paying down government debt during economic good times. Instead, the administration’s policies are racking up debt at a pace never seen during relatively good times. Conservative monetary policy would dictate setting interest rates closer to historic norms, not keeping them artificially low.
It is very sad that the self-proclaimed party of fiscal responsibility, my former Republican Party, is so irresponsible. I fear this will not end well.