If our debt surpasses our income, a far better, more intelligent solution would be to decrease the debt. If we don't raise enough revenue to pay the bills, we should probably refrain from creating more bills, don't you think? This nation will never balance a budget by spending like drunken sailors in port and then robbing the next generation to pay for such profligate waste.
Yes we have a spending problem but I think the bigger problem is how the system is designed to never let the government get out of debt. As soon as the money comes off the press there is a interest rate attached to it. So we look at our debt and say we are so far in but how much of that debt is actually the interest that comes with the money??? and you call it overspending, but who is responsible for putting the price tags on everything we buy? take the actual money out of the equation and you just have materials. Valuable materials that too many people take advantage of. Everyone is too focused on looking at things in numerical value and not economical, sustainable or humane value.
Actually the prime rate, the rate banks charge each other to borrow money is ZERO.....Money is cheap right now. A great opportunity for the government to start paying off the interest owed on the debt.
Yeah they charge each other Zero because they control the money. You notice how you say money is cheap right now?? why should money cost anything?? Hmm we created money for the purpose of exchanging goods. But then since there is labor involved in creating money they saw a perfect opportunity to become wealthy and in doing so don't really care about the ones working to create that money or the ones they lend it out too. Now I have to say that the interest rate on home purchases is very good. But if things were done right there would be no need to borrow money to pay for a home. I mean if you don't come from wealth you are forced to borrow money to purchase a home or pay others to pay off their home. Why is that fair to anyone? If it weren't for having to go to school for the first 18 to 24 years of your life there would be no debt. Or if we could implement a system that allowed students to earn money for going to school and learning the world would be much better off and kids would want to learn more and do better things.
No..The federal reserve sets interest rates.
Don't give me the "they have all the toys and make all the rules" whine. Not interested.
Money should ALWAYS cost something. If I have to buy something and I do not have the funds, I have to borrow the money from someone else. That means the lender has to give up some of their money. In effect, the lender is making an investment. That is in the form of trust. Trusting me to repay the loan. That requires compensation. Now if the lender cannot realize a return( money being free) then the lender has no incentive to lend...
See that is just a misconception.. Why should money cost something??? Why should we have to pay for the things that should be free to all? No wonder the Indians were so pissed.. They didn't pay people to do stuff for them.. They were happy and content living here off the land. Never indebted to anyone. Any resource they needed or wanted was at their finger tips without out having to pull anything out of their pocket. Everyone has figured out a way to make people pay for the resources they need to survive. Hell you even have to pay for water! That is a twisted mindset! Money is paper that is used to purchase the goods we need to survive. Hmmm so no matter how you look at it you are being forced to buy something to pay for a God given commodity... Now if I had more water than I ever needed I wouldn't make someone pay me back over time because they needed something to survive.. If there was trust and goodness in the world people would lend out the money that they don't really need without trying to make a profit! So your theory of money should ALWAYS cost something is BS... LOL why should TRUSTING someone to repay a load have an effect of compensation when that said person you are borrowing from does not need that excess cash in the first place? That is controlling power! There are plenty of other things people can be doing to make a living other than sitting back and playing with money.
This is rich..."Why should we have to pay for the things that should be free to all?"
That tops the chart of ridiculous.
We don't pay for water. We pay for the infrastructure that brings the water to our homes.
If you don't want to pay for water, dig a well.
"Everyone has figured out a way to make people pay for the resources they need to survive."...
Who is "everyone"?.....
"If there was trust and goodness in the world people would lend out the money that they don't really need without trying to make a profit!"
Wow....The entrepreneurial spirit is strong in you.
No one is forced to buy water, electric or gas service. However, if you choose to live in a community, you accept the responsibilities that go along with the conditions. If you choose otherwise, you can pitch a tent or build a cabin in the woods and live disconnected from society...
"Now if I had more water than I ever needed I wouldn't make someone pay me back over time because they needed something to survive"
That of course is your choice. However, is your free water inclusive of delivery?
"Compensation"....Genius...That is why we work or own businesses.
"does not need that excess cash in the first place"..
Who the hell are you to decide "need"?.....Define "excess cash"....
Obviously you have a very strange view of the world....I suspect you'd be content living under the thumb of government. A government that provides you womb to tomb security at no cost to you. One thing.....EVERYTHING has a cost. Even in a communist style government...
You have a problem with rationality. We're done. Please exit the country. Your socialist utopia lies elsewhere on the Globe...