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For those of you who object to the debt, what specifically are you objecting to? Discretionary spending or the sale of treasury bonds or both?
Didn't they wipe out a lot of that money they printed after the 2007 great recession? A lot of people lost their homes and half their 401K's. I believe they got rid of a lot of the $ they created out of thin air by having a crash. I'm suggesting it was man made and done on purpose. THey can create or manufacture a crash anytime they want.When we "spend" on the debt, we are simply crediting accounts. Most of the time, the money created from thin air used to credit the accounts of those who have treasury securities never enters the economy at all. Keep in mind this is all in us dollars.
It is true that only about $5 trillion or so of our $19+ trillion dollar debt, growing by mega millions every single day, is owed to other countries. It is also true that the government can print whatever money it needs to print to pay down any portion of the debt. It doesn't do that because each dollar it creates out of thin air results in a decrease in value of the money already printed. Print enough dollars out of thin air and the value of our money becomes critically devalued and/or even worthless. And then nobody is willing to accept it so the economy collapses, nobody is willing to lend us money that would be paid paid in worthless dollars, and we become a third world country. Greece, Italy et al are relatively small countries that the European Union was able to prop up sufficiently to prevent a major EU recession.
Who is there to prop up the USA when other countries are no longer willing to lend, there is no way to pay owed entitlements and/or the value of the bonds etc. sold to our own people, and it all ultimately collapses under the weight of its own debt?
I think that the spending on the poor is absolutely ridiculous and needs to be stopped. After 20 trillion dollars of spending since 1964, the poor are still poor and need to get a boot to their arse. When you take away their ability to sit on their butts all day without earning the cash, then they keep doing the same thing. Take the trillion dollars a year and pay down the debt, not only will more people be working, but the debt would be gone in 20 years.. Win, Win.....Both sides accuse the other.
The Democrats accuse the Republicans of irresponsibly cutting taxes and spending but massively increasing the national debt.
The Republicans accuse the Democrats of irresponsibly increasing taxes and spending and massively increasing the national debt.
So which is it? Does cutting taxes and spending increase the debt? Or does more taxes and spending increase the debt?
And what is most important? Spending on what is considered important? Or the debt?
How much national debt can we stand?
And what, if anything, should be done about it? Can be done about it?
War on poverty cost
$22 trillion -- three
The War on Poverty has cost $22 trillion -- three times more than what the government has spent on all wars in American history. Federal and state governments spend $1 trillion in taxpayer dollars on America's 80 means-tested welfare programs annually.
The War on Poverty Has Cost $22 Trillion - NCPA
www.ncpa.org/sub/dpd/index.php?Article_ID=25288
Didn't they wipe out a lot of that money they printed after the 2007 great recession? A lot of people lost their homes and half their 401K's. I believe they got rid of a lot of the $ they created out of thin air by having a crash. I'm suggesting it was man made and done on purpose. THey can create or manufacture a crash anytime they want.When we "spend" on the debt, we are simply crediting accounts. Most of the time, the money created from thin air used to credit the accounts of those who have treasury securities never enters the economy at all. Keep in mind this is all in us dollars.
It is true that only about $5 trillion or so of our $19+ trillion dollar debt, growing by mega millions every single day, is owed to other countries. It is also true that the government can print whatever money it needs to print to pay down any portion of the debt. It doesn't do that because each dollar it creates out of thin air results in a decrease in value of the money already printed. Print enough dollars out of thin air and the value of our money becomes critically devalued and/or even worthless. And then nobody is willing to accept it so the economy collapses, nobody is willing to lend us money that would be paid paid in worthless dollars, and we become a third world country. Greece, Italy et al are relatively small countries that the European Union was able to prop up sufficiently to prevent a major EU recession.
Who is there to prop up the USA when other countries are no longer willing to lend, there is no way to pay owed entitlements and/or the value of the bonds etc. sold to our own people, and it all ultimately collapses under the weight of its own debt?
I think that the spending on the poor is absolutely ridiculous and needs to be stopped. After 20 trillion dollars of spending since 1964, the poor are still poor and need to get a boot to their arse. When you take away their ability to sit on their butts all day without earning the cash, then they keep doing the same thing. Take the trillion dollars a year and pay down the debt, not only will more people be working, but the debt would be gone in 20 years.. Win, Win.....Both sides accuse the other.
The Democrats accuse the Republicans of irresponsibly cutting taxes and spending but massively increasing the national debt.
The Republicans accuse the Democrats of irresponsibly increasing taxes and spending and massively increasing the national debt.
So which is it? Does cutting taxes and spending increase the debt? Or does more taxes and spending increase the debt?
And what is most important? Spending on what is considered important? Or the debt?
How much national debt can we stand?
And what, if anything, should be done about it? Can be done about it?
War on poverty cost
$22 trillion -- three
The War on Poverty has cost $22 trillion -- three times more than what the government has spent on all wars in American history. Federal and state governments spend $1 trillion in taxpayer dollars on America's 80 means-tested welfare programs annually.
The War on Poverty Has Cost $22 Trillion - NCPA
www.ncpa.org/sub/dpd/index.php?Article_ID=25288
But Republicans aren't doing anything about it.The biggest problem we face is that excessive short-term borrowing has turned our national debt into an ARM with no upper limit. As a result, debt service payments could go up by multiples while GDP growth is limited to a few percent. Once we start borrowing just to pay the interest, we will have entered asymptotic curve territory.
Both sides accuse the other.
The Democrats accuse the Republicans of irresponsibly cutting taxes and spending but massively increasing the national debt.
The Republicans accuse the Democrats of irresponsibly increasing taxes and spending and massively increasing the national debt.
So which is it? Does cutting taxes and spending increase the debt? Or does more taxes and spending increase the debt?
And what is most important? Spending on what is considered important? Or the debt?
How much national debt can we stand?
And what, if anything, should be done about it? Can be done about it?
Both sides accuse the other.
The Democrats accuse the Republicans of irresponsibly cutting taxes and spending but massively increasing the national debt.
The Republicans accuse the Democrats of irresponsibly increasing taxes and spending and massively increasing the national debt.
So which is it? Does cutting taxes and spending increase the debt? Or does more taxes and spending increase the debt?
And what is most important? Spending on what is considered important? Or the debt?
How much national debt can we stand?
And what, if anything, should be done about it? Can be done about it?
Fiat money makes monetary policy political.
There is a debt level somewhere in the neighborhood of $25 Trillion where it will be literally impossible to EVER pay it down unless we artificially depressed interest rates to zero. Since we are over $20 Trillion, it might be time to start taking debt seriously rather than spending money like spoiled rich kids.
Republicans will get on board as soon as a democrat is back in the white houseThere is a debt level somewhere in the neighborhood of $25 Trillion where it will be literally impossible to EVER pay it down unless we artificially depressed interest rates to zero. Since we are over $20 Trillion, it might be time to start taking debt seriously rather than spending money like spoiled rich kids.
Tackling the debt is not sexy and it's always the other guys fault.Republicans will get on board as soon as a democrat is back in the white houseThere is a debt level somewhere in the neighborhood of $25 Trillion where it will be literally impossible to EVER pay it down unless we artificially depressed interest rates to zero. Since we are over $20 Trillion, it might be time to start taking debt seriously rather than spending money like spoiled rich kids.
There is a debt level somewhere in the neighborhood of $25 Trillion where it will be literally impossible to EVER pay it down unless we artificially depressed interest rates to zero. Since we are over $20 Trillion, it might be time to start taking debt seriously rather than spending money like spoiled rich kids.