We are in a severe financial crisis

Dear Editor:

Our family is in a severe financial crisis. Our home is mortgaged for more than its market value; we have several credit cards which are all loaded to the limit; we need repairs on our car and the water heater has sprung a leak.

We have been paying for insurance which covers the cost of keeping our parents in a nursing home and they say that premium may be raised soon.

We have held a family conference to decide what to do, but can’t seem to agree on what to do.

Some of us think we must borrow more money, while others think we will have to eliminate new clothes, stop using the dryer and air conditioning, walk to work and other things.

Has it come to that? Do I see a parallel here? Our state of Minnesota just dealt with a somewhat similar situation which seems to handle the problem for now, but maybe it was just shifting funds around, to do over again later.

It seems to me that our federal plight is the same on a grander scale.

They say that a substantial portion of our national debt is owed to China. At the same time, we are paying part of that borrowed money back to China for their products, made in competition to our own factories.

As a member of my family, I am willing to cut down my spending if necessary to stay a shrinking budget. I’m also willing to see a pro-rata portion of my federal benefits reduced.

America is the best place in the world to live. May God bless her.

Cecil Pilgrim
Cambridge

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