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View Diary: Why is "touching Social Security" in any manner a bad thing? (142 comments)

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  •  The government (0+ / 0-)

    doesn't have to balance it's checkbook for precisely the reason that it is the "issuer" of currency. We are the "users" of currency and therefore can't print our own (well except for some who find out that is called counterfeiting). That's why we have to balance our checkbook, but the US Government does not. Hence the two can't be equated.

    The US govt cannot default on it's debt for the very reason that it just issues more currency. Hence, there is NO WAY the US can't default on it's debt. That is a complete lie propagated by the elites to make you think that we are in a big crisis...you know "Shock Doctrine" time...

    The way to get out of the recession is to create demand and the jobs will follow. The tax revenue will flow from that and we'll be in much better shape both economically and psychologically. The bankers are having $40 bln of toxic "assets" taken off their books by you and me each MONTH. Let's focus where the crimes are.

    The Universe is strange enough, you don't have to add hocus pocus

    by rsie on Thu Jan 03, 2013 at 10:50:15 AM PST

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    •  check this interview out (0+ / 0-)

      by Harry Shearer interviewing Dr. Stephanie Kelton of the University of Missouri at Kansas City economics department...very lucid and logical...I think it's a must listen/read for anyone thinking that we and the gov't are alike with regards our budget constraints.

      Interview

      The Universe is strange enough, you don't have to add hocus pocus

      by rsie on Thu Jan 03, 2013 at 11:47:43 AM PST

      [ Parent ]

    •  bullshit (0+ / 0-)

      The act of issuing currency devalues currency, so issuing more currency does NOT necessarily result in a repayment of our debts, particularly if those debts are to foreign parties and subject to exchange rates.

      Ask Greece.  They know.

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