former reagan and bush 1 economic advisor.much of debt due to bush tax ccuts
- Thread starter Free Thinker
- Start date
Quote from ricter:
True. But what if you don't HAVE to borrow. If you don't have to borrow, there's no debt ... there's no interest to pay. There are governments today whose interest payments alone eat up over 50% of their gdp.
Let's say you want to build a shed in your back yard and the cost is $1000 - which you can get your hands on at will. You can either:
A. Take the geewiz and pay for it in cash, or
B. Take the geewiz, give it to me ... ask me to use it to buy
10 IOU's from you so you can borrow it back, and then
use that same geewiz to pay cash for the shed ...AND ...
as an incentive for my going along with this, you - who
also happen to own a chain of Ricters Fine Foods - give
me $10,000 in gift certificates to use at any of your
locations as I see fit.
Which makes more sense (no disrespect intended)???
Well, B above is how the govt gets its money under the current monitary system. It doesn't work now any better than it has throughout history. The only times throughout the ages that any nations economies have flourished has been those times that the governments have pushed the money lenders aside and have created, issued and administrated the nations money themselves - without debt!!!
True. But what if you don't HAVE to borrow. If you don't have to borrow, there's no debt ... there's no interest to pay. There are governments today whose interest payments alone eat up over 50% of their gdp.
Let's say you want to build a shed in your back yard and the cost is $1000 - which you can get your hands on at will. You can either:
A. Take the geewiz and pay for it in cash, or
B. Take the geewiz, give it to me ... ask me to use it to buy
10 IOU's from you so you can borrow it back, and then
use that same geewiz to pay cash for the shed ...AND ...
as an incentive for my going along with this, you - who
also happen to own a chain of Ricters Fine Foods - give
me $10,000 in gift certificates to use at any of your
locations as I see fit.
Which makes more sense (no disrespect intended)???
Well, B above is how the govt gets its money under the current monitary system. It doesn't work now any better than it has throughout history. The only times throughout the ages that any nations economies have flourished has been those times that the governments have pushed the money lenders aside and have created, issued and administrated the nations money themselves - without debt!!!
And leave Ricter alone - I don't give a flying crap if he's a Buddhist Socialist Pacifist Communist Marxist Phlebotomist... as long as he operates with a balanced budget I wish him the very best in life.
It warms the cockles of my heart that Jerry Brown and Andrew Cuomo have seen fit to improve the financial strength of their Bluest of the Blue States.
Surely any progressive can see that if their station in life is to increase government's footprint, that debt sucks the lifeblood and energy out of the cause. If that means you don't address spending but just keep raising taxes - well, that's why the Sunbelt States will welcome the tax paying refugees with open arms.
It warms the cockles of my heart that Jerry Brown and Andrew Cuomo have seen fit to improve the financial strength of their Bluest of the Blue States.
Surely any progressive can see that if their station in life is to increase government's footprint, that debt sucks the lifeblood and energy out of the cause. If that means you don't address spending but just keep raising taxes - well, that's why the Sunbelt States will welcome the tax paying refugees with open arms.
Don't be fooled by any yak, yak, yak on the internet, from a politician, your dad, your boss, or any political has-been.
The debt is because of the irresponsible thugs who are planted in Washington, D.C.---Period.
We don't need any new taxes to fix what's wrong with our economic situation. Don't buy the lie.
The debt is because of the irresponsible thugs who are planted in Washington, D.C.---Period.
We don't need any new taxes to fix what's wrong with our economic situation. Don't buy the lie.
A successful illusionist must be a master of misdirectin in order to succeed. Once your attention is diverted to his left hand, you never notice that his rt hand is picking your pockets. For generations now, the public has fallen for a well-planned and thought-out diversion that has been repeated over and over again. "If you tell a lie big enough and keep repeating it, people will eventually believe it." That our frustrations have been focused on such things as spending, political indescretions, corporate bonuses, global warming, etc. underscores the success of those behind the real problems we enjoy today:
"We must keep the people busy with political antagonisms. We'll therefore speed up the question of reform within the Democratic Party; and we'll put the spotlight on the question of protection for the Republican Party. By dividing the electorate this way, we'll be able to have them spend their energies at struggling amongst themselves on questions that, for us, have no importance whatsoever." ( United States Bankers magazine, 1892 )
It would appear that thus far they have succeed beyond their wildest dreams. Borrowing and debt ARE the problems and are what affords the powerful banking families their power and profit. Their successful misdirection has made us slaves to paying off the interest charged for our debt.
"We must keep the people busy with political antagonisms. We'll therefore speed up the question of reform within the Democratic Party; and we'll put the spotlight on the question of protection for the Republican Party. By dividing the electorate this way, we'll be able to have them spend their energies at struggling amongst themselves on questions that, for us, have no importance whatsoever." ( United States Bankers magazine, 1892 )
It would appear that thus far they have succeed beyond their wildest dreams. Borrowing and debt ARE the problems and are what affords the powerful banking families their power and profit. Their successful misdirection has made us slaves to paying off the interest charged for our debt.