I write to comment on several recent stories in the Sun Journal concerning the deficit and the falling dollar in relation to other currencies, including the euro.

The trillions of dollars debt, which does not include the public debt to our citizens, is 65.9 percent of GDP (gross domestic product).

Foreign investors, primarily Japan, China and Great Britain, own billions of dollars in banks, real estate and Treasury notes. They are receiving a 4 percent interest rate, thus keeping U.S. interest rates low. Until now, they have been willing to use their dollars to buy our products but, with the falling dollar, they may buy euros and no longer be willing to finance our deficit at 4 percent.

The Bush administration just borrowed $80 billion more to reconstruct Iraq,which our bombs are destroying along with thousands of innocents, mothers, children and pregnant women among the insurgents.

Alan Greenspan, Federal Reserve chairman, repeated in Germany that he is concerned about the large deficit and the falling dollar; and said that if foreign investors withdraw their support, our country would suffer great financial difficulty.

I’ve read that Bush is unconcerned about the falling dollar or our trillions of dollars deficit, although many economists wish he would share their concern.

Joanna Walsh-Ward, Lewiston

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