Numbers released by the Congressional Budget Office in April in its 10-year projection, coupled with the Government Accountability Office’s prior analysis and the current status of politics in our country, show the U.S. is headed for a financial default. It may take the form of large-scale printing of money, or it may be more akin to a corporate Chapter 11 reorganization (i.e., various creditors take a haircut). Many other Western republics are headed for the same fate. Simultaneous acts are very possible. Along the way, expect the stock market and perhaps the bond market to go haywire, possibly leading to (per former Treasury Assistant Deputy Secretary Gene Steuerle) a worldwide depression. Collapsing democracies/republics tend to be followed by dictatorships. It would behoove people to either completely change face about expectations and actions, or prepare for what is coming.
ALLEN BUCKLEY, ATLANTA
Underpaid teachers reflect society’s true values
If anyone questions why teachers are taking to the streets around the country, all one has to do is read the sports pages of local newspapers. The average yearly salary of a professor at the University of Georgia is $106,187. The football coach makes $7 million a year. The men and women who have advanced degrees, who do research, write articles, and teach students would have to work nearly 70 years at their present salary to equal the one-year salary of the university’s football coach. The average yearly salary of an Atlanta school teacher is $58,064. Matt Ryan, who plays a game, will have a salary of approximately $2 million per game; that is, Ryan will earn more on a Sunday afternoon than the average public school teacher in Georgia will earn in their career. This disparity is not about the market. It is about values.
JAMES C. COOMER, PEACHTREE CORNERS
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