Debt the greatest threat

I am either a moderate Republican or conservative Democrat depending on the candidate. I was very critical of Cathy McMorris Rodgers in the most recent election over the most unsuitable Trump. Since then it appears her relationship with Trump is lukewarm from the outside, and I commend her for this.

The greatest threat to our nation is the condition of the federal government finances. If debt plus contingent liabilities are examined using what most companies used and GAAP (Generally Accepted Accounting Principle) is applied, the government is, in fact, insolvent. The only thing keeping it afloat is that it is liquid, only as long as people are willing to buy the debt. The dollar is in fact only backed by debt.

The situation (all debt is eventually liquidated) can only be solved by default or devaluation. I bet heavily on devaluation. The third way is to cut spending and raise taxes significantly. The evidence that tax cuts increase growth historically is nebulous at best. This problem makes now the most difficult time for a politician. If Cathy seeks the very unpopular but principled path of removing fraud out of government programs and reducing spending and increasing taxes (very unpopular with Republicans) significantly, she should be praised, not demonized.

Marcus Lehmann

Spokane