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Old 11-18-2011, 01:52 PM
 
17,749 posts, read 15,023,452 times
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Quote:
Originally Posted by lifelongMOgal View Post
You'll find no disagreement from me on that. I think that is why Ron Paul is correct in the following on dismissing the debt to The FED:

Ron Paul & Eliminate US debt to fed video - Bing Videos:
Its a good publicity stunt. And I really mean good. It doesn't matter much fiscally, since profits are rebated to the treasury, but is a nice peak behind the curtain.
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Old 11-18-2011, 01:52 PM
 
Location: Charlotte
12,646 posts, read 13,612,225 times
Reputation: 1679
Lightbulb oh lord...

Quote:
Originally Posted by pghquest View Post
What a nonsense reply which I've come to expect from you. BORROWED money goes into the general fund which BALANCES the government. Without it the government couldnt be cutting your SS checks

Try to think before you respond again.
lol...

You have no idea how this system works.
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Old 11-18-2011, 01:53 PM
 
69,372 posts, read 53,591,148 times
Reputation: 9357
Quote:
Originally Posted by walidm View Post
lol...

You have no idea how this system works.
No substance as usual.
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Old 11-18-2011, 01:54 PM
 
17,749 posts, read 15,023,452 times
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Quote:
Originally Posted by pghquest View Post
The failure in your reply is that one can borrow money, and still have a balanced budget..

For example, if you have a mortgage, you still have debt right? You still balance your budgets correct?

Balanced budget amendment wouldnt limit borrowing for things like wars.

So you can pass around your own IOUs with excellent liquidity and taxing power behind it?
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Old 11-18-2011, 01:56 PM
 
69,372 posts, read 53,591,148 times
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Quote:
Originally Posted by Hadoken View Post
One thing I find interesting is that this isn't a "balanced budget proposal" at all, since it doesn't actually propose a budget that is fiscally balanced. It's a balanced budget amendment, which is basically just a goofy way to strong arm themselves into something they have no actual appetite to do, because the voters would slaughter them once they discovered what had to be cut. And in the end, they'd simply declare some conflict to be a major war, and keep on going.

Also, let's stop pretending that the GOP is somehow the party of fiscal discipline - they haven't been for several decades, and they really aren't now. Their howling is really about their "starve the beast" fantasy, which just keeps failing.
I actually agree with your first paragraph, but your statements saying the GOP hasnt been responsible for decades is incorrect. Prior to the GOP takeover of the Congress in 1997, the Democrats held control for decades. This takeover of course lead to "balanced budgets" until the early 2000's and it was only war expenses which created deficits. Of course then Democrats took back over Congress and has yet to pass a budget since.
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Old 11-18-2011, 01:57 PM
 
400 posts, read 221,692 times
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Well, well, well... GOP darling Paul Ryan voted against the balanced budget amendment.

Quote:
One of the most surprising votes against the amendment was Rep. Paul Ryan (R-WI), the fiscally hawkish chairman of the House Budget Committee.
First Read - House fails to pass Balanced Budget Amendment

Not really surprising, considering that the much-touted (by Republicans) Ryan budget plan called for years and years of... yep, deficit spending.
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Old 11-18-2011, 01:59 PM
 
69,372 posts, read 53,591,148 times
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Quote:
Originally Posted by gwynedd1 View Post
So you can pass around your own IOUs with excellent liquidity and taxing power behind it?
Thats what they do now isnt it? They create IOU's for Social Security then create IOU's to the US Treasury, taxing the revenues to pay it back.
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Old 11-18-2011, 02:02 PM
 
Location: NC
10,005 posts, read 8,715,891 times
Reputation: 3062
Quote:
Originally Posted by gwynedd1 View Post
What these geniuses don't seem to know is that the Fed masquerades this process with a banking facade:

* country has no money
* country spends money into existence.
* country with surplus sucks money back in.
* country with deficits spends more money into existence.


Of course they made a FED that pretends to loan money, and then they slapped an interest draw on it so they could call it debt.


So basically the "fiscally conservative plan" is to rely on the velocity of money(increasing bank debt with interest). The problem is banks are not lending to broke Americans, and the ones who do drive up asset prices crushing all hope of recovery.
What they also don't understand is money's real value is in the amount of goods and services it can buy.

If there is inflation (expanding the supply of money relative to goods) Money buys less. If there is deflation (decreasing money relative to goods) Money buys more. It works opposite with debt the more inflation it is easier to pay off debt. With deflation debt become near impossible to pay off, because you are making less money and your debt is getting larger day after day and if you cannot pay of debt you default, and if everyone defaults people get terrified and hide there money rather then invest it and when that happens the economy dies.
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Old 11-18-2011, 02:06 PM
 
17,749 posts, read 15,023,452 times
Reputation: 6377
Perpetual Motion Machine Act
North and South simultaneously Act
Eat Your Own Tail Act


It reminds me of China Town. They cannot figure out in their starched suits that bespeaks good moral fiber that she has a mommy and a sister all in one.
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Old 11-18-2011, 02:07 PM
 
Location: Gone
25,237 posts, read 13,302,229 times
Reputation: 5915
Quote:
Originally Posted by pghquest View Post
No substance as usual.
Yes, just like the reply above.
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