Vote Obama to reduce deficit

Under President Bush, the federal debt has increased from $5.7 trillion to $8.8 trillion, an increase of more than 50 percent. A huge amount of this debt is held by China, South Korea and other foreign governments. Borrowing from foreign governments gives them the power to influence how the United States responds to domestic financial emergencies, i.e. the timing of the government's recent take over of Fannie Mae and Freddie Mac was largely made to assure South Korea, China and other foreign governments that the $1 billion in bonds they held would be honored. The foreign governments in effect were told your money is safe, while any middle class family who invested in the companies will loose their money. They are on their own.

We must work to reduce the federal debt. Sen. Obama has shown the wisdom of reducing the federal debt by voting in 2005, 2006 and 2007 to reinstate pay-as-you-go (PAYGO) federal budget rules and voted against misguided Republican efforts to raise the statutory debt limit at the same time the Republicans were pushing through massive debt-financed tax cuts for the wealthy.

Paul R. Love

Mundelein