Slade3200
Diamond Member
- Jan 13, 2016
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Funny you pick 1913 for comparison, the last year before the Fed Reserve Act, income taxes, and the start of our evolution away from the gold standard. I actually love the simplicity of the system we had back then, we were a young country with booming growth... Then the wars came, depression came, the population grew exponentially, and our economy evolved. Doc Brown is still working on your time machine so you can go back there but unfortunately the rest of us need to deal with the real world and modern problems in a modern economy. I'm for a smaller government and smarter spending, but I'm also not blind to the fact that spending stimulates the economy, and there are basic needs that need to be invested in, and the economics of our nation are much more complicated than your bank statement... We will never go bankrupt or default because we create currency... We need to be smart with how it's all managed though... Frivolous spending is part of the problem but when a majority of the new money and wealth go to a very small percentage of people, that is also a tremendous problem... A much larger part of the problem of you truly understand the situationThe governments been doing it for years and we havent experienced this dreaded inflation or devalue of the dollar... It's all about balance and operates completely different than personal economicsThe government never has and never will miss a SS payment, we create our own currency so defaulting will not happen unless there is a huge economic callapse and the value of the dollar goes to shit. We are close to that despite what your friends at Fox try and make you believe. Study the economicsBecause we don't operate with a fixed amount of currency. New money is added into our economy through debit, credit and investment and is then removed from the economy through taxation. It doesn't operate like a business or personal finances as we create currency and are not dependent on income. You need to do some homework
What does any of that have to do with the Social Security Trust Fund? Is there actual money in there or not? If there is, then the government should be able to spend it to pay SS benefits. If it can't do that, then it's a colossal fraud. It's really quite simple. There's no need to invoke all your Keynesian abracadabra to answer the question.
What you need to do is learn some actual economics and basic business accounting so you don't sound like an idiot and a pompous ass to boot.
So what you mean is that if the United States is in danger of defaulting it can inflate away its debt by debasing the currency. And how does that differ from defaulting, in any meaningful sense? What good is a SS check if the dollars it represents are totally worthless??
You just admitted that SS Trust Fund is a fraud.
The dollar in 1913 was worth about 22 times what it's worth now. So, you were saying about how the dollar hasn't been devalued?
You belief that the laws of economics don't apply to government scams couldn't be more idiotic.