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Los Angeles County, CA June 3, 2008 Election
Smart Voter

Sound Monetary Policy

By Phillip D. "Phil" Roche

Candidate for Member, Republican Party County Central Committee; County of Los Angeles; Assembly District 39

This information is provided by the candidate
Governments should not spend more money than they receive. Otherwise, the result is borrowing.
Borrowing requires increased debt and payment of interest. The Federal Reserve by increasing the money supply dilutes the value of the dollar. The result is inflation. Inflation is hidden taxation.

The Congress and Legislatures should not pass unfunded mandates. This is not responsible government. Any corporation engaged in this practice would rapidly go bankrupt. Governments get away with this for a time, and rob Peter to pay Paul, but eventually the result is hyperinflation.

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