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November 24, 2009

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Letter: With its huge ‘mortgage,’ America’s in trouble

Friday, Oct. 19, 2007 | 8:23 a.m.

Right now we have a really big mortgage on our country. I dare say we are paying only on the interest and very little on the principal.

A mortgage is the pledging of property to a creditor as security for the payment of a debt. I guess all the affluent countries like China hold our huge mortgage.

What is to stop these countries from holding us in foreclosure? Could they demand we hand over California, or some other rich state, for payment of the debt? I guess I'm just kidding.

Still, I hope some smart lawyers in China don't follow up on this scenario. They could always count on the lawyers in our country to help them out.

I wonder whether our rich politicians handle their own finances the way they handle the country's. Not to worry, America, your children and their children's children will have to pay this huge mortgage, and at the same time curse us for letting this happen.

Go back to sleep, America. Don't answer the door ; it might be the Grim Reaper demanding payment.

John Tominsky, Las Vegas

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