To the Editor:
The letter to the editor about the George Stephanopoulos and Obama interview on ABC News (Kane County Chronicle, April 27, 2013) explains once again that the president can't cope realistically with the mess the U.S. is in, as far as our ability to be a skillfully run country is concerned.
When he tells ABC News that we don't have an immediate crisis in terms of debt for the next 10 years, he is negligent about facing up to the magnitude of the federal debt. As the recent letter to the editor points out, the U.S. has a debt of $17 trillion, more than 100 percent of our annual gross domestic product, and – each month – the Federal Reserve is pumping $85 billion into the U.S. economy.
This money has to be borrowed from someone, and the U.S. government can't just borrow from itself. We could always counterfeit money, but that is illegal.
When we have slow growth; high unemployment; discouraged, poorly trained workers; too many people on welfare; and too much war exposure, we have a serious situation.
I don't think Obama is equal to the task of turning things around.