Rick Perry Life Insurance Scheme w/ Texas Teachers
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@WilhelmDrake National Debt defined is the amount the Government extends in bonds and securities. Nevertheless, your answers are interesting. What is your opinion of the so-called Euorpean Debt Crisis? And of the hundreds of Trillions in derivitives? ( I consider the derivitives as contrived nonsense...financial giberish, designed to create a crisis for the financial gain of a few people in high places ).
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The "Nation Debt" is by definition the private sectors assets. If the private sector wants to net save in US dollars, the only way for that to occur is if the federal government is to net spend.
The constraint (other than voluntary constraints) occurs when the economy is at full capacity (full employment, full resource utilization, etc), at this point further spending can cause inflation.
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@WilhelmDrake So, if what you are saying is true....Why bother to keep track of the National Debt at all? And why worry about a Federal Budget? Doesn't the constant inflation of the money supply devalue the currency?
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The Federal Government is not a household or firm, there is no analogy to be made.
It is the monopoly issuer of the nations currency, not a user of the currency.
It spends by crediting bank accounts.
Deficits do not necessitate the issuing of debt.
Debt is issued in order to maintain the overnight interest rate. It does not fund deficit spending.
Taxes function to regulate aggregate demand & demand for the currency, they do not fund spending.
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@WilhelmDrake Well, yes, some amount of debt/deficit is necessary for the government to function. But if that debt/deficit is allowed to grow unchecked, interest on the debt will eventually be so much of the Federal Budget that the Government cannot continue to pay for necessary services along with the interest. Eventually you will reach a point of unsustainable debt. That's common sense.
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No.
If the private sector wants to net save in dollars, the only way for this to occur is for the government to run a deficit.
Public deficit = Private Surplus & vice versa
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@WilhelmDrake This is sarcasm, right?
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Deficit spending is not a problem. Where do you think net money comes from?
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@MBP6705 It would be nice if he or she was.
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@MarcoBrolo The debt Reagan inherited was the total accumulated since the begining of the country, about 1 trillion. It wasn't Carters trillion. Reagan laid the groundwork for the disaster we have now. He initiated peacetime defict spending among other things.
And no...I'm not a liberal. And no....I don't like Obama.
Try to find unbias sources of information. Fox news and conservative radio, as with all mainsteam media are terrible places to get information.
peng1965a 6 months ago 19
Yes, I heard about this 'dead peasants' insurance. Where fucked up companies like Wal Mart and banks will take out insurance policies on their employees, especially the ones with health issues and when that person dies, that company gets a big check. It's disgusting and unethical but look who endorses this crap-Rick Perry. Can't say I'm surprised. Fucking crooked politicians.
mrselfdestruct23 6 months ago 4