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Re: Federal debt at tipping point
Posted: Sun Jun 11, 2017 4:04 pm
by Tom Mazanec
Re: Federal debt at tipping point
Posted: Thu Jun 15, 2017 3:14 pm
by Tom Mazanec
Re: Federal debt at tipping point
Posted: Wed Jun 28, 2017 2:59 pm
by Tom Mazanec
Re: Federal debt at tipping point
Posted: Sun Jul 09, 2017 3:54 pm
by Tom Mazanec
Re: Federal debt at tipping point
Posted: Sun Jul 16, 2017 5:08 pm
by Tom Mazanec
Re: Federal debt at tipping point
Posted: Sat Jul 22, 2017 8:37 am
by Tom Mazanec
Re: Federal debt at tipping point
Posted: Wed Aug 02, 2017 10:06 pm
by Wobblie1+
Debt is not the problem.
Michael Hudson:
"A false parallel is drawn with private saving. Of course individuals should get out of debt by saving what they can. But governments are different. Governments create money and spend it into the economy by running budget deficits. The paper currency in your pocket is technically a government debt. It appears on the liabilities side of the public balance sheet.
When President Clinton ran a budget surplus in the late 1990s, that sucked revenue out of the U.S. economy. When governments do not run deficits, the economy is obliged to rely on banks – which charge interest for providing credit. Governments can create money on their own computers just as well. They can do this without having to pay bondholders or banks.
* * *
If the government were to pay off its debts permanently, there would be no money – except for what banks create. That has never been the case in history, going all the way back to ancient Mesopotamia. All money is a government debt, accepted in payment of taxes."
https://www.nakedcapitalism.com/2016/03 ... d-war.html
Re: Federal debt at tipping point
Posted: Wed Sep 20, 2017 7:17 pm
by Tom Mazanec
Re: Federal debt at tipping point
Posted: Tue Aug 28, 2018 10:09 pm
by Tom Mazanec
Re: Federal debt at tipping point
Posted: Thu Sep 20, 2018 8:05 pm
by Tom Mazanec
2048:
$6,000,000,000,000 deficit
99,000,000,000,000 debt
and the projections almost always fall short.
Before then we will be Venezuela.
http://theeconomiccollapseblog.com/arch ... rs-by-2048