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Show diminishing dollars The publication "Salt Lake Business," published by" the Salt Lake City Area Chamber of Commerce, has translated government spending and deficits into declining declin-ing dollar values in a way that can be understood by the fourth grader who will be paying the bill. Since 1942, the value of the dollar has shrunk 53 cents. If it continues to shrink at the same rate during the next 28 years, as it has during the past 28 years, it will be worth only 18 cents as we reach the end of the 20th Century. By that time, as "Salt Lake Business" points out, the average worker now receiving $7,200 in wages would have to earn $16,800 just to keep even; $3,000 cars would cost $7,000; $25,000 homes, $58,000; $4,000 college tuition, $9,400, etc. If the present spending habits of government continue con-tinue to outstrip the productivity and taxpaying ability of the people, the average worker will be no closer to winning the race against inflation than he is today. And the bigger the wage increases, the bigger the government deficits, the faster the inflationary spiral will turn. Somewhere Some-where along the way, the mirage of security within the framework of a welfare state will vanish. |