Show off your holiday lights and you could win an iPad! Enter your photo by December 13. Winner will be selected by popular vote.
Monday, October 7, 2013
Shutdown and default, French style
Sure you want to risk defaulting on the deficit? The French did 200 years ago.
During the 1780s, French nobles wanted to regain lost power by undermining the king. After an expensive war (American Revolution) funded largely through loans, Louis XVI and his finance ministers proved unable to deal with the resulting deficit. Louis flatly refused either to raise taxes or the deficit ceiling.
France paid back her loans with more loans until she went bankrupt and defaulted. Louis then summoned the Estates General to find a solution.
Many who’d sought to undercut the government lost their heads — to Madame Guillotine. Anarchy, military dictatorship and more than 20 years of war followed.
Contrast this with the British approach. With the backing of Parliament and the king, Prime Minister William Pitt tackled the war debt by raising the deficit ceiling, raising taxes and floating early debt retirement schemes. Result? Sound economy, sound government and the ability to fight the French for 20 years and defeat them.
While a U.S. default probably won’t result in revolution, it could easily send global economies reeling.
And who can foresee what world chaos might happen, any more than the French could in 1789?
BARBARA N. PEACOCK
Return Holland as commissioner
Re-elect Sherman Holland as Roanoke’s commissioner of the revenue.
He is the best candidate for this office. He has proven himself in the 32 years of service in it. He has served as the commissioner for 16 of these years. He has brought professionalism and efficiency to this office.
I know this because I have had to deal with him. I also know Holland as a family man and one who has made many contributions to the city.
Let us cast our votes for Holland in the November election.
EDWARD T. BURTON
In that case, bring on ‘Obamacare’
A TV ad being run by the Cuccinelli campaign accuses Terry McAuliffe of being in favor of “Obamacare,” which will cost a typical four-member middle-class family $7,450 annually. That figures out to be around $621 a month.
A few years ago, when my son was forced to seek a health insurance program on the open market to cover his family of four, the least expensive plan he could find cost more than $900 a month, or $3,350 more than what the Cuccinelli campaign claims the cost would be under “Obamacare.”
Sounds like the Affordable Care Act is a fairly good deal.
Weather JournalWarmth next 2 days hits icy wall