progressives: should the USA borrow tens of trillions more for society? (gallon, enemies)
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I am sure there are plenty who think why not? Our whole economy is based on debt.
Haven't looked at more recent Numbers by the FED, but wouldn't be surprised if this number were much larger by now.
First of all, what the hell do you mean "for society"? Everything the government does is, in theory, "for society."
Second, no, we borrow way to much from China, the federal reserve, etc. Thing is, most of said borrowing came from the openly right wing presidents, like Reagan and Bush, to build a useless empire overseas. If we cut our imperial budget (I refuse to call it defense spending) by two thirds we'll be out of debt...but the military industrial complex would never go for that.
The new borrowing has been brought to us by that right-wing hack Obama and his still perpetual war and kickbacks to the corporations who own him.
If we ended corporatist kickbacks, ended the empire and had a fair tax code with tariffs on goods made in communist China and money hidden in tax shelters, we would be out of debt in less than a decade. America is run by openly right-wing hacks (republican) and closeted right-wing hacks (most democrats and the douche-monkey in chief) and hence that won't happen.
Oh, and the vacation time in most European countries is the result of 80% of their populace being in unions, as opposed to 10% in America. The government doesn't have much to do with that.
If America can borrow $20 TRILLION for hunger programs and schools and paid sick leave and other France like programs then why not?
It would only cost around 2%…
Good idea, progressives?
A. Pursuant to Title 12 USC Sec. 411, all Federal Reserve notes (aka "dollar bills") are borrowed into existence. (part of the national debt).
B. The national debt is 16+ trillion dollars (not dollar bills).
C. To "borrow" 20 Trillion more, would require raising the debt to 36 trillion to authorize 20 trillion new "dollar bills".
D. In reality, the amount of circulating dollar bills is far below the national debt. FRB: H.6 Release--Money Stock and Debt Measures--May 23, 2013
Apr. 2013 M1 (in billions): $2523.2; ____ M2: $10525.
Small point - the underwriters of this impossible to repay public debt are the "contributors" - you know - the people who signed up with FICA.
Is there a symbolic reason for choosing $20 trillion?
I figured that $20 trillion would feed every poor child, provide education for every poor child, provide 11 months of paid paternity leave for every woman, provide a full pension for every American, provide 500 hours of paid sick leave for every American every year, provide for the cost of moderate to severe medical care for all Americans, provide long term care insurance for all Americans, provide Social Security for every American equal to 90% of work life salaries, provide 100% tutition reimbursement for every middle class American family and provide no money down loans for every first or second time American home buyer.
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