TCS writes, We are vigilant, looking out for amendments that would lead to wasting more of our precious tax dollars on parochial interests or items extraneous to national security. Conversely, we love to trumpet the ones that would save the Treasury even a few nickels because with a $17 trillion debt, the country could use every dime. TCS and the Congress, White House certainly arent focused on understanding monetary sovereignty. IT IS A DISGRACEFUL SIGN OF THEIR COLLECTIVE IGNORANCE To read, in this day and time, 42 years after abandoning Bretton Woods and currency convertibility/fixed exchange rates, that we have so called CONSERVATIVES, PROGRESSIVES AND LIBERALS WHO CONTINUE TO BELIEVE THAT THIS NATIONS GOVERNMENT CAN RUN OUT OF MONEY AND MUST SAVE DOLLARS TO FUND DEFENSE, SECURITY, TRANSPORTATION, SOCIAL SECURITY, MEDICARE, ETC. These legislators AND tcs ARE the enemy and it is not deficits. It is they, Congress and the WH. They WHO, cynically, preach austerity when they know full well that: (1) with a modest targeted increase in deficit spending and a sizable tax cut which increases private sector net savings, and (2) with an inflation target of 3.5% instead of 2%, this economy could be humming. by June or before. But no, they foist upon citizens the belief that we spend too much. Too much compared to what? GDP? That argument (Rhinehart-Rogoff) was vilified by all reasonable economists on all sides of the spectrum, except of course TCSthose Tea Party economists. So, Americans frightened by the drum beat of were going bankrupt, from the incessant propagandizing of the Peterson Deficit Nazis, cowers, ignorant of the of the other side of the coin. The other side of a deficit is a surplus. Where do most Americans think government spending goes? They really cant tell you. The average American is really stupid about balancing a check book, so understanding deficits and surpluses is way beyond their ken. They, will never believe that our governments deficit spending adds net savings to the private sector, to the penny. Theyll never believe that along side Petersons deficit clock in Times Square should be a Warren Moslers surplus clock. Both clocks would provide viewers the same numbers, Moslers would show a positive number, Petersons a negative number, and both would be equal to the penny. This simple fact of accounting is counter intuitive to most Americans simply because most Americans dont, wont or cant GET IT.
Posted on: Sat, 23 Nov 2013 23:10:41 +0000
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