hiimterry Wrote:
Nov 13, 2012 12:06 PM
Our citizens do not recieve enough education on the nature of debt. Government debt is not like household debt where we just use a credit card and are left with a balance that we have to pay, plus interest. Government debt is the creation of money. Debt is a mechanism to "grow" the economy. Since government debt is the creation of money, payment of debt would be the destruction of money. There's no way the government is going to do that. That is why we were moved to a pure fiat currency. The debt is not an accident of overspending and no politician has any intention of "paying" it.