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Old January 8 2013, 05:33 PM   #44
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Location: Sacramento, CA
Re: 2024 is only a decade away -- are you a gimme, or a dim?

Sigh, no one understands how money works with a Fiat Currency.

Yes, individuals and States must balance their budgets, too much debt/deficit is bad. However, at the Federal level, with a Fiat Currency, Debt/Deficit is not bad, it is a good thing. Look at President Clinton, who built up a Surplus, and what happened? Many want to accuse George W. Bush o squandering away the surplus, but, the obvious thing happened, Pres. Clinton's Surplus led to a recession, because a surplus in the Federal Government (With a Fiat Currency) means less money flowing through the economy. A Debt/Deficit means moremoney available to the Economy. Taxes are a means regulating the Economy, when the Economy gets hot, you need to raise taxes, to slow it down, when the economy gets too cold you need to lower taxes (to stave off inflation). If only, even the Federal Government understood money at the Federal Level

Of course Debt/deficit hurt Greece, because they don't have a Fiat Currency, so they need to operate as an individual or a State, but, with a Fiat Currency, you control the money, borrowing Debt/Deficit are simply numbers on a spreadsheet, they are absolutely meaningless, because you print all the money you want.

Government does need to provide temporary jobs and support people temporarily when times are tough, to keep times from getting tougher, and get money back into the Economy (But it's also true we have far too many lazy Welfare Queens, to quote a previous post).

I was once laid off from a $40K a year job, and had to take a temp job that was below my experience level for $10.00 an hour, no benefits, (Apartment rent rising for 3 months in a row), for an entire year, eating hotdogs and Top Ramen, while I looked for a permament job worthy of my experience. So, yea, sometimes you do have to do what you have to do. But, neither side of the debate understands Modern Monetary Theory and the correct way to use Government money, The Dems/Progessives want to be Santa Claus and The 'pubs/Conservatives want to be scrooge

When you look at panhandlers, you see us lily White folks, and you another ethnicity quite prominently, but, I have yet ever seen an Hispanic or an Aisian pan handling, they hang out at Home Depot to get day jobs, work multiple Minimum Wage jobs, or live many together or make food and trinkets to sell... They find a way to be selfsufficient until things improve (And again, if there is absolutely nothing, then yes, Government should be a safety net for them, and shold be training them for new careers that are more prevalent)
One Day I hope to be the Man my Cat thinks I am

Where are we going? And why are we in this Handbasket?
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