To the editor: 

I was interested in Jack Bruns’ letter in the Nov. 27 issue of The Call. Mr. Bruns was addressing the cause of inflation.

I understood him to say the Federal Reserve steps in to print new money to buy U.S. Treasury bonds the public has not bought. By increasing the money supply, the money already in circulation is devalued.

My understanding of the system is the government issues bonds, which the public buys, so the government can pay its bills. Of course, the government has to pay interest on the money loaned to it and eventually pay back the face value of the bond, be it $20 or $50, etc.

To me, the basic problem is the government is always on a spending spree. Money is no object. Government money goes out on the least provocation at home and, even more worryingly, abroad.

Clearly, since the government spends more than it takes in from taxes, it is in debt. Instead of cutting back on spending, the government issues bonds. It covers its immediate bills at the expense of running up a bigger bill.

The increase in the national debt since 2000 is truly frightening. If I had my way, reducing the national debt would be the number one priority of every administration.

I say this because not only is the government in debt, a large percentage of the population is in debt. I wonder if I’m the only one who thinks the whole system could collapse. I would love to hear the opinion of others on this matter.

Joy Renisch

Sappington