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Soucy has spent the past two years sending a small portion of his earnings to the Bureau of the Public Debt in Parkersburg, W.Va., writing checks so often it has become “like muscle memory,” he says. Now he has begun trying to persuade everyone else to pledge the same donation: $1 from each paycheck for employees, and $1 from each major transaction for businesses.
He believes the plan could pay down the debt — over decades, if perfectly executed.
“It’s patriotism when our country needs us, plain and simple,” he said.
Already this year, Americans have donated a record amount to pay down the debt, sending the Treasury more than $7 million in personal checks.
All told, it is enough to keep the American economy running on budget for almost three minutes.
[Deleted long string of LOL, ROFL, etc]
A "dollar bill" is a worthless IOU, according to House Joint Resolution 192, June 1933.
Pursuant to Title 12 USC Sec. 411, it is borrowed, at usury, into existence.
You can't "pay down" the debt with debt.
Minus added to a minus is MORE minus.
If we actually used a market money I'd rather pay it off by not spending it on stupid. Given the system we have the only way to do it is to go into personal debt to pay off the national debt after which I could not even be sure what the money actually is at that point. Another huge private debt bubble would certainly help reduce the national debt.
However we cannot even move beyond the false premises.
[Deleted long string of LOL, ROFL, etc]
A "dollar bill" is a worthless IOU, according to House Joint Resolution 192, June 1933.
Pursuant to Title 12 USC Sec. 411, it is borrowed, at usury, into existence.
You can't "pay down" the debt with debt.
Minus added to a minus is MORE minus.
[head smack].
That really is the problem. Governments can't ever pay off debt. Soon as they create debt the economy begins to use it in trade like any commodity money. Some basic rules on money are:
* Money must not be able to be monopolized or it will be.
* Money tends to fall out of circulation if not otherwise inflated because money always ends up with people who can and tend to hoard it. Its spent until it ultimately falls in the hands of "savers".
* Money tends to inflate when its fiat and it tends to deflate when its a commodity.
* Governments cannot borrow money without inflating the effective money supply or deflating it when they pay it off. Government debt is traded like money.
* Money is always something about debts
* Saving money is saving debt
* Money is closely tied with states no matter that they do. (how is tax collected? What ever is collected becomes de facto money)
* Silver historically was one of the best monetary prototypes because it was not fiat but was discovered in enough quantity and hence difficult to monopolize. Still, the Hunt brothers...
* Money ,from an idealistic point of view, sucks no matter what it is, generally speaking.
* Good economies are when banks are allowed to fail.
* Bad economies are when the banks are "spared".
* Money is over simplified and taken for granted( bankers like to keep it this way), and yet it is probably the most complicated subject in economics.
That really is the problem. Governments can't ever pay off debt. Soon as they create debt the economy begins to use it in trade like any commodity money. Some basic rules on money are:
* Money must not be able to be monopolized or it will be.
* Money tends to fall out of circulation if not otherwise inflated because money always ends up with people who can and tend to hoard it. Its spent until it ultimately falls in the hands of "savers".
* Money tends to inflate when its fiat and it tends to deflate when its a commodity.
* Governments cannot borrow money without inflating the effective money supply or deflating it when they pay it off. Government debt is traded like money.
* Money is always something about debts
* Saving money is saving debt
* Money is closely tied with states no matter that they do. (how is tax collected? What ever is collected becomes de facto money)
* Silver historically was one of the best monetary prototypes because it was not fiat but was discovered in enough quantity and hence difficult to monopolize. Still, the Hunt brothers...
* Money ,from an idealistic point of view, sucks no matter what it is, generally speaking.
* Good economies are when banks are allowed to fail.
* Bad economies are when the banks are "spared".
* Money is over simplified and taken for granted( bankers like to keep it this way), and yet it is probably the most complicated subject in economics.
The federal government doesn't have a problem paying off the debt. The government has a problem with spending.
The fix is easy...pass a Balanced Budget Amendment.
The federal government doesn't have a problem paying off the debt. The government has a problem with spending.
The fix is easy...pass a Balanced Budget Amendment.
As much as I hate bad government spending, I think 27 trillion in bank credit for land ponzi takes the cake don't you?
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