Columnist Ron Smith states that our economic collapse is inevitable ("When will collapse come?" Sept. 16). As a tea party guy, I hold out hope that there will come a day when voters put enough pressure on our politicians that they see the light and we start paying down our debt to avoid that collapse. But seeing as how Senate Leader Harry Reid just inserted federal funding to create more bike paths into one of the bills going through Congress, I can see why Mr. Smith would conclude that our politicians don't get the gravity of the situation with regard to the debt.
If we assume that the collapse will come and that the only solution will be to print an insane amount of money to pay our debts, then we'll face a crucial choice. In the wake of such a financial disaster, the dollar will be worth pennies compared to its current value, and Americans will have to get used to a far more modest lifestyle. Essentially, we'll be happy to be paid a bowl of rice for our labor like the Chinese. But out of those ashes will be born industry — if we don't regulate it out of existence.
Our labor will be cheap, and that means our products will be cheap abroad — unless wages are held artificially high by union strong-arm tactics and minimum wage increases that try to keep up with the devalued dollar. We'll still have abundant energy to tap into — unless there are moratoriums placed on its extraction as we see today. And the value of the dollar will once again grow strong — unless, of course, we allow our politicians to once again run up debts because they are too gutless to tell constituents they can't have their cake and eat it too.
Ultimately, if we return some sensible policies into our government, we will rise from the ashes. If we stick with the politics that got us in this deep of a hole in the first place, we will be doomed to reminiscing about the glory days as we feed our kids fried bologna sandwiches instead steak.
Fred Pasek, Frederick