The April 21 editorial, Remember the deficit?, cited several reasons for the plunging deficit, never mentioning the Federal Reserve’s actions to keep rates low.
It is a lot easier to finance deficits at 2 percent than it would be if rates were allowed to rise to their historical averages. We would then be facing annual deficits of more than $1 trillion again. It is the single most important reason why rates have been kept at almost zero and why rates cannot be allowed to rise until we are in a real recovery where increased revenues offset the higher cost to borrow. That is most likely many years away.
Richard F. Katz, Cooper City