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Letter: Cartoonist has it wrong about the effect of Obama

Cartoonist has it wrong about the effect of Obama

In the July 18 News, syndicated political cartoonist Lisa Benson intimates that the economic policy of the present administration resulted in burdensome debt.

President Reagan, who accused his opponents of a “tax and spend” policy, actually increased the debt 2.6 times, the largest in history (including wartime). He assured us that “deficits don’t matter.”

A discussion of debt without assets is meaningless. “Obamanomics” turned around the worst recession since 1929, almost tripled stock market values from their lowest point and made the dollar the strongest currency in the world, in which other nations are willing to invest at zero interest.

I would give Benson a failing grade in accounting, economics, history and gratitude.

Ross Markello

Getzville