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Issue Home January 29, 2014 Site Home

Letters to the Editor Policy

Back To The Future

It shouldn’t come to anyone as a Surprise that a great human interest story is unfolding right here in beautiful downtown Susquehanna, at the old railroad station.

The new owner is Mr. Andrew Plonka, who bought the building in October, 2011. He has been making preparations to affect the needed repairs and renovations. His family’s dream is to establish a railroad museum and non-profit Community Center.

A legal problem has emerged. The property was zoned, for the first time in 2006 as industrial/recreational property by Susquehanna Borough. Obviously it has been and remains “without variance commercial property”.

A Conditional Condemnation was placed upon the building, prohibiting the Plonka family from sleeping in the building. So they, have had to purchase a Motorhome and park it adjacent to the building.

In the meantime, there is no electricity in the building. They are waiting for an inspection of the breaker panel, but the inspector refuses to inspect, pending a lifting of the Condemnation placed on the building by the Borough.

Susquehanna Station and Hotel was listed by the National Register of Historic Places in 1972. The Starrucca House is recognized by the Smithsonian Institute as, “an outstanding architectural work” and by the Society of Industrial Archilogical as, “unique as a station hotel…because it may be the only Gothic Revival example to remain”.

To add to the record of this Community Monument that testifys to the great railroad history of Susquehanna County, the Plonka Family is planning a memoral plaque for Father John V. O’Reilly, First Pastor of St. Johns Catholic Church; who threw himself in front of a locomotive to save an unaware pedestrian and was killed.

The time has come for residents of the Susquehanna area to stand up and do what they can to save and restore their Railroad Station for future community and economic growth and enjoyment.

The Plonka Family is a wonderful addition to our Tri-Boro Community.

Sincerely,

John Mann

Lanesboro, PA

The Demise Of The Dollar

Is hyperinflation of the dollar inevitable? Is it possible that the United States is fated for a replay of post WW I Germany when a loaf of bread cost 200 million Marks and suitcases were used for wallets? Some economists think it is not only possible but likely. The numbers tell a troubling tale.

In 2009 the national debt was $10 trillion; 2010 = $12 trillion; 2011 = $14 trillion; 2012 = $16 trillion; 2013 = $17 trillion. The key question is this: What will the national debt be in 2014?

It’s a shocker that could plunge financial markets around the world into turmoil and send the greenback into currency oblivion.

Last October 17 both houses of Congress agreed to suspend the debt limit until February 7, the date of the next debt ceiling budget battle. It’s an open-ended check to spend, with abandon for the next 15 weeks. We don’t know how much that will be.

If the rate of spending continues at its past rate of $1 trillion a year, then Congress will be spending $19 billion a week, or $289 billion for the 15 weeks between October 17 and February 7. Tack that on to the $17 trillion in existing debt for a total of $17.3 trillion. Not an encouraging number. It shows little resolve to control spending or to reign in the debt.

But after the spending cap was suspended the government spent $375 billion in the first week. Over a 15-week period this would add up to $5.6 trillion in new debt. Add that to existing debt of $17 trillion for an astounding $22.6 trillion. Throw in Obamacare and it exceeds $23 trillion.

So which way will Congress go: $17.3 trillion showing little control of spending or $23 trillion evincing out-of-control spending?

Not too long ago foreigners bought our debt, eagerly. The dollar stood supreme among the world’s currencies. Investors were fully confident that their loans would be repaid with interest. That has changed.

The U.S. passed a grim milestone in December 2011. It was then that the national debt of $15.23 trillion edged passed the Gross Domestic Product of $15.17 trillion. Since then the gap has widened considerably, to $1.4 trillion in 2013.

The two biggest investors in federal debt are worried. China holds $1.3 trillion and Japan has $1.1 trillion. They, along with 40 other nations holding U.S. debt, have a bundle riding on the U.S. economy and they’re worried. If the dollar loses value so do their investments, and the dollar is sinking.

Here’s what’s keeping them awake at nights.

Overseas investors no longer buy all the government bonds that are for sale; the Federal Reserve buys the unsold portion, about 65 percent, in order to keep interest rates low. If the Fed did not purchase them, the government would have to raise interest rates to attract buyers. That would have a negative impact on a faltering economy and increase the amount of money owed on interest. In essence, the Fed is giving the government license to print money and fan the fires of inflation.

The trade deficit for 2013 was $600 billion. Add that to the burgeoning debt burden.

The economy is in recession. Don’t buy the latest unemployment happy-face figure of 6.7 percent. If the unemployment percent included those who are no longer counted in the work force, it’s 13 percent. A weak economy means a weak dollar and that’s bad news for holders of U.S. debt.

If taxes were raised to 100 percent of everyone’s income, it still would not pay off the debt. Congress must make cuts in Social Security, Medicare, government pensions, and other entitlement programs, if the debt is to be effectively addressed. But it would be political suicide for either party to support this.

What would happen if our creditors started lining up at the exit door? The government would simply print the money and they would be paid in full, but in dollars that would be worth less and less. It would be the beginning of hyperinflation.

The eyes of the world will be on Congress this February 7. It could be the second “date that will live in infamy.”

Sincerely,

Bob Scroggins

New Milford, PA

Annual Report Available

The Blue Ribbon Foundation of Blue Cross of Northeastern Pennsylvania is pleased to announce that our 2013 Annual Report is now available on our website at www.bcnepa.com/Community/BlueRibbon.aspx.

Blue Cross of Northeastern Pennsylvania established its private, non-profit Blue Ribbon Foundation in 2002 to invest in health and wellness initiatives throughout northeastern and north central Pennsylvania.

In more than a decade of service, The Foundation awarded nearly $10 million in grant funding to 190 nonprofits to help meet the health and wellness needs of more than 191,000 at-risk individuals.

In 2013, we awarded grants to 27 organizations for health-related projects that are producing real results.

Last year, for example, in Susquehanna County, our partners included:

Trehab, which will provide free educational workshops entitled “Medication Safety for Older Adults” to 300 seniors and their caregivers.

Family Health Clinic of Barnes-Kasson Hospital Dental Unit, which will expand staff time and purchase the supplies needed to serve an additional 85 un/underinsured children and adults.

United Way of Susquehanna County, which will continue to provide much-needed health and human services programs to county residents.

These partners and others recognize the value of preventing rather than treating disease, and are helping to turn the tide on many of today’s most pressing – and most costly – health issues.

We remain committed to our mission of helping people live healthier lives, and we’re privileged to support the work of so many dedicated organizations.

Sincerely,

Cynthia A. Yevich, Executive Director

The Blue Ribbon Foundation of Blue Cross of Northeastern Pennsylvania

Wilkes-Barre, PA

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Last modified: 01/28/2014