Reply from Congressman Emanuel Cleaver concerning OrphanWorksActof 2008

[Jeffrey Watts]

On Wed, Aug 13, 2008 at 12:39 AM, Jeffrey Watts
<jeffrey.w.watts at gmail.com>wrote:

>
> Fuel costs are DIRECTLY affected by the value of the US dollar.  The US
> dollar has been plummeting in recent years due to the increasing debt load
> of the US government and the subsequent devaluation of US Treasury bonds.
> The tax breaks dramatically increased that debt load, and therefore
> contribute to the devaluation of the US dollar.
>

I should have added that the poor financial footing the government is on
affects perception of the value of the US dollar on exchange markets.  This
perception is key, and much like a corporation might have its credit rating
devalued due to poor financial performance or management, our dollar isn't
perceived to be as valuable of a currency to own recently.  This scares off
investment in Treasury bonds, and so forth.

Jeffrey.

-- 

"He that would make his own liberty secure must guard even his enemy from
oppression; for if he violates this duty he establishes a precedent that
will reach to himself." -- Thomas Paine
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