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There's no deadline to repay the debt, because the whole point is the interest -- $1.4 trillion last year. Yes, we borrowed money to pay interest on money we borrowed.You better hope you are dead and gone when the deadline to repay this debt. comes along.... every dollar the government prints must be borrowed from someone or someplace....
Ponder that for bit. You're on the right track.The federal government is the source of dollars—not of wealth, but dollars.
All China has to do is say pay up now in full.... this notion today that the debt of America is not a serious problem is untrue... the very people who borrowed and spent are the one's spreading that nonsense....There's no deadline to repay the debt, because the whole point is the interest -- $1.4 trillion last year. Yes, we borrowed money to pay interest on money we borrowed.
It would be better if the government did print the money to cover the deficit instead of "borrowing" it. Then at least we wouldn't be transferring our wealth to the international banksters through interest payments.
So China says "we want $700 billion today," ok, says the US. We write them a check for 700 billion, drop it in the mailbox on the corner, and done. Problem solved.All China has to do is say pay up now in full.... this notion today that the debt of America is not a serious problem is untrue... the very people who borrowed and spent are the one's spreading that nonsense....
As of April 2024, the United States owes China $749 billion, making China the second largest foreign holder of US debt, after Japan.
But we would have to borrow the 750 billion... who would loan it to us?... maybe Japan but they would want something in return.... We are broke...So China says "we want $700 billion today," ok, says the US. We write them a check for 700 billion, drop it in the mailbox on the corner, and done. Problem solved.
We wouldn't have to borrow a dime. We could do what the Fed does. Add some zeros to a database somewhere. Exact same thing as "printing money."But we would have to borrow the 750 billion... who would loan it to us?... maybe Japan but they would want something in return.... We are broke...
You might have something here... lolWe wouldn't have to borrow a dime. We could do what the Fed does. Add some zeros to a database somewhere. Exact same thing as "printing money."
YupUltimately, the taxpayers are the source of federal dollars. The problem arises when the government spends more than it steals from taxpayers and thus prints the balance. That dilutes the value of existing currency, thus inflation and deficits.
Eventually that leads to a $100 loaf of bread.We wouldn't have to borrow a dime. We could do what the Fed does. Add some zeros to a database somewhere. Exact same thing as "printing money."
Not necessarily. The total wealth of a country isn't static so the purchasing power of a dollar changes irrespective of the number of dollars in circulation. But even so, it is still better than borrowing it from the Fed, which does the exact same thing--adds zeros to a database somewhere, but then charges us interest on it. A giant dispossession of the American people.Eventually that leads to a $100 loaf of bread.
I didn't notice anyone sniveling, nor arguing that govt debt is the only problem. My question is why we "borrow" the money to cover the deficit rather than just "print" it. It's the same fucking thing, only without interest payments let alone payment on the debt itself.Private debt creates money the exact same way, and private debt dwarfs govt. debt by a long long way. That is all Wall Street sells is debt. Sniveling about govt. debt as if it is the only problem is just silly and avoids the other giant elephants in the room. The Fed debt is less than the $56 trillion in Wall Street and the $95 trillion in the global markets. And in fact a big chunk of the Fed debt is caused by the Wall Street debts.
I didn't notice anyone sniveling, nor arguing that govt debt is the only problem.
Last year, the US government paid $1.4 trillion in interest payments. The poverty level for a single person in the US is $15,060.00. Compared to the yearly income of someone just getting by, $1.4 trillion is like the length of I-80 from San Francisco to New York City compared to the length of your thumb. That's real money being paid to...um...somebody on money originally created out of thin air. You can call that an "ideological narrative" if you want to, but I'll bet most readers recognize it as parasitism.Nah, you just never bring it up, as it doesn't fit the ideological narrative you want peddle; basically just a form of lying by omission.
The poverty level for a single person in the US is $15,060.00.
Again, it's not the creating money out of thin air that's the issue. Nor is it the size of the federal debt. The issue is that we allow some private actors in the parasite sector create it out of thin air, then borrow it from them at interest.More like $50,000 adjusted for real inflation. All debt is creating money out of thin air, money that has yet to be made, a lien on future productivity. The Govt. debt is peanuts compared to total debt.
