The national debt is 19.3 trillion dollars. How do we fix it?

[Toddsterpatriot]

Why don't you post another fake quote to back up your position? Durr.

All real quotes dumbo. You guys love to quote the founders when their quotes back your position but want to pretend they are fake quotes whenever they say anything about warning that the rich could get too powerful.

You are sooo brainwashed.

In a letter to Joseph Milligan on April 6, 1816, Thomas Jefferson explicitly suggested that if individuals became so rich that their wealth could influence or challenge government, then their wealth should be decreased upon their death. He wrote, "If the overgrown wealth of an individual be deemed dangerous to the State, the best corrective is the law of equal inheritance to all in equal degree..." - See more at: How Rich is Too Rich For Democracy?

You fucking retard.

All real quotes dumbo.

Gee, who should I believe, Monticello.org, or some idiot named sealybobo? LOL!

Do you doubt this?

In a letter to Joseph Milligan on April 6, 1816, Thomas Jefferson explicitly suggested that if individuals became so rich that their wealth could influence or challenge government, then their wealth should be decreased upon their death. He wrote, "If the overgrown wealth of an individual be deemed dangerous to the State, the best corrective is the law of equal inheritance to all in equal degree..."

Do you doubt this?

Do you admit your inflation/deflation quote was fake?

No not at all.

Former Federal Reserve chair Ben Bernanke called the bank meltdown of 2008 the worst financial crisis in global history -- even worse than the Great Depression.

They took an important step this week by finalizing a requirement for how much money -- known as highly liquid assets -- banks have to hold.

The big issue in September 2008, when Lehman Brothers went bankrupt and American International Group (AIG) needed a massive government bailout, was basically that banks didn't have enough cash on hand to pay their bills.

The rules the Federal Reserve and Office of the Comptroller of the Currency codified on Wednesday require banks keep enough cash -- or assets that are close to cash -- to cover all the institution's activities for a month.

This is all from 2014

There's been a lot of wrangling over these rules, which is why they are only being finalized six years after that major financial meltdown.
Banks have been concerned the rules could hurt their bottom line by forcing them to essentially park money they could put to more profitable use. So they argued with regulators over what constitutes those "highly liquid" assets. Those details have mostly been teased out now.
Related: 4 years later, Dodd-Frank reform law is only half done
"We estimate either bank would only experience about 1% to 2% annual earnings headwinds in order to be fully compliant by 2017," said a research note from Vining Sparks that called out State Street and Bank of America (BAC) for possible issues meeting the requirements.
The rules begin to phase in January 1, 2015, but banks have until 2017 to be in full compliance. It will apply to all banks with $250 billion or more in assets. A more lenient rule will apply to middle tier banks with $50 billion to $250 billion in assets.
In a statement, Americans for Financial Reform said the rule "falls well short," especially when it comes to the middle tier banks, "which are smaller than the largest 'too big to fail' Wall Street banks but are still major banking entities that hold a substantial amount of banking system assets."
In banking circles, there is grumbling that this is government overkill. It remains to be seen what effects the rule might have on banks' willingness to lend or be involved in certain financial transactions.
At the moment, regulators believe it's better to have a bit extra in the rainy day fund.
And of course bankers think they are being over regulated. Even after the banking collapse where they were "too big to fail".
I don't even want to rehash all this with Todd the Retard. Next he's going to send me to do more homework and research to prove to him....when I couldn't give two shits about Todd the fucking moron.

This is all from 2014

Your fake Jefferson quote was from 2014? Durr.

 

[Toddsterpatriot]

Exactly,

Cutting infrastructure, science, r&d and education will weaken our economy(make it much smaller). This will of course mean less jobs = less revenue to pay back the debt. The problem with loserterianism is less government enforcing of anti-trust laws, regulations and making it fair for small businesses will mean a much smaller middle class which once again = a much smaller overall economy to pay back the debt. A couple Huge corporations controlling the entire market place will mean less pay and less jobs for Americans.

I certainly agree that we should work to cut the debt but the loserterian, "I hate government and let the private sector control everything" is a sure loser.

We cut the debt by getting out of decadal wars, cutting waste, fixing healthcare, and yes getting the poor back to work so we don't have to dole out as much welfare. Less Investments = a weaker economy.

But these losers will deregulate the banks again and start a new war with Iran. And triple the defense budget.

deregulate the banks again

Again? When was the last time?

You don't remember? Then why are we talking to a fucking retard?

Bush loosened the rules on how much money a bank had to keep in reserves in case of an emergency because we were teetering on the brink of recession.

If you don't remember that maybe you have selective/revisionist memory. Put the Rush and Fox down stupid!

Bush loosened the rules on how much money a bank had to keep in reserves in case of an emergency because we were teetering on the brink of recession.


When did he do it? What was the name of the bill?
You have a link to the vote in Congress?

How about you go prove to me Thomas Jefferson didn't say what I say he said and you prove Bush didn't do what I say he did?

How about you go prove to me Thomas Jefferson didn't say what I say he said

Status: This quotation is at least partly spurious; see comments below.

Comments: This quotation is often cited as being in an 1802 letter to Secretary of the Treasury Albert Gallatin, and/or "later published in The Debate Over the Recharter of the Bank Bill (1809)."

The first part of the quotation ("If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered") has not been found anywhere in Thomas Jefferson's writings, to Albert Gallatin or otherwise. It is identified in Respectfully Quoted as spurious, and the editor further points out that the words "inflation" and "deflation" are not documented until after Jefferson's lifetime.2

Private Banks (Quotation) | Thomas Jefferson's Monticello

Monticello says he didn't.

 

[Little-Acorn]

The national debt is 19.3 trillion dollars. How do we fix it?


Inflation. Soon $19.3 trillion will be small change.

Worked after WWII.

Ordinary people's savings will become small change too, of course. But that's what they get for trying to save for the future.

 

[Rexx Taylor]

isn't California worth 19.3 trillion? Hmm, ebay?

 

[g5000]

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

Fake quote.

The first known use of the word "deflation" was in 1891. 65 years after Jefferson's death.

If you can't win an argument, make up a fake quote by a famous person, eh?

 

[Toddsterpatriot]

The national debt is 19.3 trillion dollars. How do we fix it?


Inflation. Soon $19.3 trillion will be small change.

Worked after WWII.

Ordinary people's savings will become small change too, of course. But that's what they get for trying to save for the future.

Worked after WWII.

Really? I thought the government massively cut spending after WWII?

Ordinary people's savings will become small change too, of course.

Where are these savings invested?

But that's what they get for trying to save for the future.

Saving is better than not saving.

 

[Toddsterpatriot]

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

Fake quote.

The first known use of the word "deflation" was in 1891. 65 years after Jefferson's death.

If you can't win an argument, make up a fake quote by a famous person, eh?

Fed lover!!!!

Sorry, couldn't resist

 

[g5000]

In 19th Century America, "inflation" began to be used to criticise the actions of governments putting too much money into circulation, causing prices to rise. Later it was used loosely to mean the rise in prices itself.

A word for the opposite - both letting air out of something, and restricting money and prices - would be needed sooner or later, but it was only in the 1890s that "deflate" and "deflation" came into use.

Why then? Suddenly inflating and deflating had become familiar to millions, for the 1890s was the time of the bicycle boom, when "safety cycles" with chain drives as we know today became widely available and hordes of ordinary people took to the rugged roads - and had to care for their suffering tyres.

The Vocabularist: Where does the word 'deflation' come from? - BBC News

 

[g5000]

The national debt is 19.3 trillion dollars. How do we fix it?


Inflation. Soon $19.3 trillion will be small change.

Worked after WWII.

Ordinary people's savings will become small change too, of course. But that's what they get for trying to save for the future.

Worked after WWII.

Really? I thought the government massively cut spending after WWII?

There was a high rate of inflation for a few years after WWII. Also, our economy boomed, which also helped lower the debt.

 

[Londoner]

We fix it by doing what Reagan did best. Giving tax breaks to people who ship jobs to China, and creating a Pentagon budget that bankrupts the citizenry while enriching Lockheed and Halliburton. Silly rabbit, the system is designed to make the rich richer.

 

[Rexx Taylor]

isn't California worth 19.3 trillion? Hmm, ebay?

i believe the minimum starting bid is .50 cents.,,,well? anyone?

 

[g5000]

Historical Inflation Rates: 1914-2016

 

[Rexx Taylor]

i wonder how many jobs that pay 50,000.00 yr u could create with 19 trillion

 

[g5000]

i wonder how many jobs that pay 50,000.00 yr u could create with 19 trillion

Those jobs have been created with that 19 trillion.

 

[Rexx Taylor]

i wonder how many jobs that pay 50,000.00 yr u could create with 19 trillion

Those jobs have been created with that 19 trillion.

the 42 net jobs since 2009?

 

[g5000]

i wonder how many jobs that pay 50,000.00 yr u could create with 19 trillion

Those jobs have been created with that 19 trillion.

the 42 net jobs since 2009?

Why do you think our American Politiboro spends so much money?

To bring home the bacon to their districts. Fat federal contracts and the like.

And there have been over 10 million jobs created since 2009. Not 42.

 

[g5000]

This is why some people want Congress to have control of the money printing press instead of the Fed. They know Congress is made up of demagogues who will inflate the living shit out of our currency, because one of the immediate "benefits" of inflation is jobs. And those dumb bastards will print more money every time jobs start to fall off, so they can keep getting re-elected.

 

[Rexx Taylor]

i remember a while ago, i think i divided one trillion by 40,000. i think i came out with a total of about 15 to 20 million? thats a lot of jobs,,,,,,does that sound right? my 1974 calculator only goes as far as one million.

 

[Campbell]

Bring manufacturing back to the U.S. Offer tax incentives, scale back the nazi epa, get the government out of the way, they will come back. In other words, vote the Democrats OUT. This debt has weakened us as a country, and must be fixed.

Call up Ronald Reagan and George W. Bush........they are the two which borrowed the money.

George W,. Bush assumed a balanced budget, surpluses projected all the way to the out years, immediately cut taxes twice, 2001 and 2003 then proceeded to double the national debt from $5.7 trillion to nearly $12 trillion.

ATTN!!!!!!

To All Republicans.....if you cut tax rates for the rich you should cut spending

 

[sealybobo]

But these losers will deregulate the banks again and start a new war with Iran. And triple the defense budget.

deregulate the banks again

Again? When was the last time?

You don't remember? Then why are we talking to a fucking retard?

Bush loosened the rules on how much money a bank had to keep in reserves in case of an emergency because we were teetering on the brink of recession.

If you don't remember that maybe you have selective/revisionist memory. Put the Rush and Fox down stupid!

Bush loosened the rules on how much money a bank had to keep in reserves in case of an emergency because we were teetering on the brink of recession.


When did he do it? What was the name of the bill?
You have a link to the vote in Congress?

Todd you are getting dumber and dumber by the minute. I'm not your research monkey boy.

I'm not your research monkey boy.

You made a claim and you can't provide backup. Frankly, I'm shocked!

Holy shit! Trump just said audit the fed!

I don't care as long as rubio and kasich aren't the nominee.