Who is protecting our middle class, poor?

Well the election rhetoric is heating up as anticipated. We’ve heard a lot about the Republicans trying to skirt their wealthy member’s tax responsibilities at the expense of the middle class and the poor.

Obama is putting forth that he is for the little guy and he will work for the government to level the playing field and give the average guy a shot. I guess a shot at getting a job and becoming self sufficient. A good thing.

Anyway, ponder this thought a minute. The Fed just announced a third QE (quantitative easing), that means flooding banks with freshly printed money to loan out, supposedly to help small business and prospective homebuyers have access to low interest loans. Sound like a great idea?

Just like many liberal policies, they do sound great until you assess their implications.

For this government to continue to print money, for any reason, with the amount of debt it now holds is reckless and endangers the country’s monetary system. It is deflating the value of our dollar. Why do you think oil is more than $90 a barrel, it’s a good barometer for our currency’s worth.

The president fancies himself as the champion of the middle class and protector of the poor and needy. Then why does he funnel us into a vacuum of hyper-inflation and soaring interest rates?

The cost of gas and diesel are going to sky-rocket and prices of groceries and goods will become so expensive that buying necessities will burden us all.

So who is protecting the middle class or the poor? Obama printing money we don’t have out of thin air and deflating the value of the dollar is in effect, raising taxes on everyone. It’s the most vulnerable that will suffer the most from this insidious taxation.

R. BRUCE JOHNSON

Sandpoint