The Jan. 12 article “How the pandemic ‘sugar high’ led to Maine’s budget crunch” has worldwide implications. During the 2020-2022 pandemic period, the USA put an unencumbered $6.7 trillion into the hands of individuals, corporations, businesses and government programs. No reciprocal taxes were collected. If you want to see prices skyrocket, this is the recipe.
The USA, the proprietor of “the dollar,” has been recklessly printing money for years. Last year we were $1.6 trillion short of balancing the federal budget, making us over $35 trillion in debt. The yearly interest payouts will soon be $1 trillion a year. That’s money that could be spent on needed programs, gone, collected from our taxes and paid to debt holders. And, pushing the cost of living higher again. A newborn tomorrow will be instantly over $101,000 in debt. Shame on our leaders.
“Sugar highs” are cheap to come by but have many unfavorable results.
Steve W. Musica Sr.
Harpswell
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