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Actually it was tried and done but the economy went into the crapper
I did not know that.
But when we speak of the government going into debt, remember , the government doesn't produce anything or earn any money. They just TAKE money and spend it. It's like you over spending your neighbors paycheck and then telling him to give you more money because you want to spend more. I looked up 'Ponzi scheme' in the dictionary and it's spelled 'Government'.
We have debt based currency.. it's impossible to pay the debt off because money is debt. Any time someone gets a loan that money is spent into the economy. It must be repaid back at a greater level than which it was created due to interest. This is fractional reserve compound interest banking.
A loan being paid back with added interest is not fractional reserve banking. Fractional reserve is where banks only need to hold a portion of their deposit obligations as reserves. Which has been passe since the crash.
But when we speak of the government going into debt, remember , the government doesn't produce anything or earn any money. They just TAKE money and spend it. It's like you over spending your neighbors paycheck and then telling him to give you more money because you want to spend more. I looked up 'Ponzi scheme' in the dictionary and it's spelled 'Government'.
Any examples where you trying to compare the govt to a person or household fail. Also most references to Ponzi schemes are also ill informed and fail as well
But when we speak of the government going into debt, remember , the government doesn't produce anything or earn any money. They just TAKE money and spend it. It's like you over spending your neighbors paycheck and then telling him to give you more money because you want to spend more. I looked up 'Ponzi scheme' in the dictionary and it's spelled 'Government'.
You have to separate our governments. Local, state and Federal. At the Federal level money gets created. So spending can happen without taxing the people. More local governments are not monetarily sovereign. They have to tax, take our money and then spend it.
Debt= what keeps the working man working daily
surplus= What keeps the man from not working daily
“Credit has done a thousand times more to enrich mankind than all the gold mines in the world. It has exalted labor, stimulated manufacture, and pushed commerce over every sea” Daniel Webster.
“Credit has done a thousand times more to enrich mankind than all the gold mines in the world. It has exalted labor, stimulated manufacture, and pushed commerce over every sea” Daniel Webster.
Credit (aka Debt).. no way around it. You give me credit, but i am in DEBT to you. So in order to pay off the debt, I have to work. If I didnt take the credit, Then their is no need to work.
You have to separate our governments. Local, state and Federal. At the Federal level money gets created. So spending can happen without taxing the people. More local governments are not monetarily sovereign. They have to tax, take our money and then spend it.
But isnt the city/county/government is to only take out or tax for services it needs to pay the bills and not profit?
But isnt the city/county/government is to only take out or tax for services it needs to pay the bills and not profit?
Non-profit. But more local gov'ts might need to save. The Federal gov't doesn't.
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