- 18 Apr 2021 04:30
#15167516
1] The grand total of the US national debt is the accumuated total of all deficit spending over all years since the national debt was paid-off in abut 1835. Note that, I don't think it includes all the grrnbacks Pres. Lincoln spent during the Civil War.This a useful number. However, not that useful.
2] The US national debt will never be paid-off because sucking this much money out of the economy will cause a recession and then adepressio if the sucking isn't stopped.
. . . Given that the US national debt will never be paid-off, it really should not be thoght of a debt at all. An example of this maybe that when one declares bankruptcy, the IRS then assumes much of the debt written off was past income.
. . . So, we need a new name for it. Maybe, "net gifts to the people"
3] The Fed. Res. Bank is not independent of the Gov. because =>
. . a] It as created by a law in about 1913.
. . b] This law deined how it opperates especially its goals of full employment and low inflation.
. . c] The US Gov. appoints all its leaders.
. . d] 97% of its revenue (not proits, its revenue) is paid to the US Treasury Dept. acc.
. . e] The true owners of anything are they who get the mony and they who decide who makes the decisions. It is just a convient fiction that the Fed. is not part of the Gov.
Given that the Fed. is part of the US Gov. it follows that the net "national debt" or net gifts to the people should not include all the bonds held by the Fed., or the Soc. Sec. Admin. for that matter.
OTOH, fiscal conservatives use the phrase "national debt" to scare the voters. So, they will not stop using it for that, and they will not redduce it to its true current value, either.
I'd like to see a law that it is to be portraied as the "net gifts to the people" in all media or with some such phrase.
.
2] The US national debt will never be paid-off because sucking this much money out of the economy will cause a recession and then adepressio if the sucking isn't stopped.
. . . Given that the US national debt will never be paid-off, it really should not be thoght of a debt at all. An example of this maybe that when one declares bankruptcy, the IRS then assumes much of the debt written off was past income.
. . . So, we need a new name for it. Maybe, "net gifts to the people"
3] The Fed. Res. Bank is not independent of the Gov. because =>
. . a] It as created by a law in about 1913.
. . b] This law deined how it opperates especially its goals of full employment and low inflation.
. . c] The US Gov. appoints all its leaders.
. . d] 97% of its revenue (not proits, its revenue) is paid to the US Treasury Dept. acc.
. . e] The true owners of anything are they who get the mony and they who decide who makes the decisions. It is just a convient fiction that the Fed. is not part of the Gov.
Given that the Fed. is part of the US Gov. it follows that the net "national debt" or net gifts to the people should not include all the bonds held by the Fed., or the Soc. Sec. Admin. for that matter.
OTOH, fiscal conservatives use the phrase "national debt" to scare the voters. So, they will not stop using it for that, and they will not redduce it to its true current value, either.
I'd like to see a law that it is to be portraied as the "net gifts to the people" in all media or with some such phrase.
.
- By ingliz
- By Dr House
- By JohnRawls