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More Letters to the Editor: With Volker in charge, strap on to your wallets

Mr. Volker’s wild ride about to resume

Vice President Dick Cheney reportedly said, “Deficits don’t matter.” He was wrong.

Deficits contribute to total debt, the best measure of the nation’s money supply. Money growth is necessary for economic growth, so historically, every time total debt declines, economic growth declines.

Before Fed legend Alan Greenspan came Paul Volker. He ended the 1970s inflation by increasing interest rates and reducing the federal deficit.

Unfortunately, while increasing interest rates defeated inflation, reducing the money supply sent us into the longest recession since the Great Depression.

President-elect Barack Obama, impressed with this dubious “success,” has hired Volker to provide economic advice.

Now, the government runs a large deficit, correctly though belatedly, adding money to our money-starved economy. Whenever the next inflation cycle arrives, Volker again will advise raising interest rates (good) and cutting the deficit (disasterous). Old dogs never learn.

So strap onto your wallets. With Volker’s advice, things will get wilder.

Rodger Malcolm Mitchell

Wilmette, Ill.

Sorry! Big Business monopolizing bailouts

Combined with the roll of the dice and several visits to jail, I was the first of the six players faced with bankruptcy while playing our after-Thanksgiving feast Monopoly game.

My near departure game comment captured some laughs from the remaining players when I told them that I was going to call President Bush for a bailout.

Mike Sawyer

Key West, Fla.

Citizen Online Archive, 2006-2009

This archive contains all the stories that appeared on the Tucson Citizen's website from mid-2006 to June 1, 2009.

In 2010, a power surge fried a server that contained all of videos linked to dozens of stories in this archive. Also, a server that contained all of the databases for dozens of stories was accidentally erased, so all of those links are broken as well. However, all of the text and photos that accompanied some stories have been preserved.

For all of the stories that were archived by the Tucson Citizen newspaper's library in a digital archive between 1993 and 2009, go to Morgue Part 2

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