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It is true the national debt is not new...but you don't find it interesting Trump doesn't even address the debt anymore?
Use to bother him when Obama was President -- how he's PResident and the debt means nothing.
And I agree -- we elect politicians that are suppose to deal with this debt and they don't.
Thing is -- I've been told repeatedly that conservatives are more 'conservative' fiscally -- and you know what - -that's a crock of bull.
That's the point.
The point is -- don't try and pretend being a conservative is about conservative fiscal policies...it isn't. It's about conservative social policies and that's all.
Trump of course is no true conservative. But he does know debt, at least conventional debt.
National debt is even 'easier', as it is never paid off. And whether Trump knows or not, our federal gov't is monetarily sovereign in the USD. So it never has to be abandoned via the bankruptcy process as we know Trump to be good at.
Private banks printing currency(Fed Res)and wars are the 2 greatest causes of our national debt.
This was why JFK attempted to end the insanity Woodrow Wilson was duped into signing off on.
"Kennedy apparently reasoned that by returning to the constitution, which states that only Congress shall coin and regulate money, the soaring national debt could be reduced by not paying interest to the bankers of the Federal Reserve System, who print paper money then loan it to the government at interest. He moved in this area on June 4, 1963, by signing Executive Order 11,110 which called for the issuance of $4,292,893,815 in United States Notes through the U.S. Treasury rather than the traditional Federal Reserve System. That same day, Kennedy signed a bill changing the backing of one and two dollar bills from silver to gold, adding strength to the weakened U.S. currency" President Kennedy, Federal Reserve, and Executive Order 11110
Eliminating the Fed Res is the ONLY means to tackle the issue effectively.
Ironically, Kennedy's bill to have the Treasury print currency has never been repealed.
Not one administration since JFK was shot has even considered this option again.
Gee, I wonder why.
Actual printed currency is but a small part of our money and national debt. Most money these days is electronic.
Turning over the money creating process to we the people and our elected officials has been discussed. Few seem to like the idea of politicians making our monetary decisions.
Actual printed currency is but a small part of our money and national debt. Most money these days is electronic.
Turning over the money creating process to we the people and our elected officials has been discussed. Few seem to like the idea of politicians making our monetary decisions.
Form of currency is irrelevant, but your second objection is more than valid.
Politicians are not to be trusted in making any decisions.
You mean that private banking loans cause our national debt to rise?
The private loans from the Fed Res to the US Treasury most certainly have; and the reason many Presidents fought against it prior to WW1.
But I cannot imagine personal loans from banks to citizens having much effect(not when compared to the wars the US has borrowed for), barring mass defaults on mortgages etc. Am not an economist here so could be mistaken, as banks always find a means to make up losses on the back end...IE: Great Depression
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” -Woodrow Wilson
The private loans from the Fed Res to the US Treasury most certainly have; and the reason many Presidents fought against it prior to WW1.
But I cannot imagine personal loans from banks to citizens having much effect(not when compared to the wars the US has borrowed for), barring mass defaults on mortgages etc. Am not an economist here so could be mistaken, as banks always find a means to make up losses on the back end...IE: Great Depression
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” -Woodrow Wilson
Where do we have the Fed loaning the Treasury money?
If you mean the QE processes, almost all the related interest payments are swept back to the Treasury. Almost as if the Treasuries were never issued in the first place.
i.e. you can just about subtract any Fed ownership ($2.5T) of national debt from the total.
Obama is responsible for 33% of the national debt. Did it in just 8 years.
Nobody complained while he was doing it.
Not one dime of the national debt has ever been paid back. It's now mathematically impossible to retire the debt.
No one complained?! You must suffer from amnesia if you don’t remember the Tea party... which you probably supported. Of course, when Trump blows up the debt then it’s ok for your ilk. Enjoy hypocrisy.
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