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December 9, 2012

Letter: A distant cry from 'socialism'

Gloucester Daily Times

To the editor:

Republicans would have us believe that, with rising government spending, we are on our way to “socialism” or to bankruptcy.

The fact is that, for over a half century, federal government spending has hovered at about a flat 20 percent of our Gross Domestic Product. That puts us at about No. 144 out of 160 countries.

There has been no trend toward government ownership of the means of producing goods and services.

No, our huge deficits reflect the recession that stemmed directly from deregulating the financial community and the reduction of the top tax rates paid by the super-rich.

MILT LAUENSTEIN

Gloucester and Exeter, N.H.

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