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Thread: Can Trillion Dollar Coins Save the Economy?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    1) Canada’s government debt is not shrinking. In truth, Canada’s [Conservative party run] Federal debt is actually increasing even vs GDP, still recovering from the recession hit (well maybe recovering somewhat from the Conservative party now gaining more control via a majority government, we shall see). It is overall the overall government debts that are dropping vs GDP.
    Actually, if you were to look at the data I provided, it is shrinking.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Fenton View Post
    He's the crazy cat lady stuck in a pudgy bearded mans body.

    Did you hear he turned down the Treasury Secretary's job and explained how his position as a OP-Ed writer at " the Worlds Paper" was job enough for the twisted little pudgy bastid.

    Yep. Only problem, the position was never offered to him.

    And liberals idolize that fool.
    It's time to just speak the truth instead of dancing around the subject.

    Liberals are not that bright. We all know it but Conservatives tend to be too polite to speak the obvious.

    They should be publicly ridiculed more frequently.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    I think it would be a good thing if this country headed back to being the “land of opportunity” rather than the direction of the “land of opportunity if you happened to spring from the right set of genitals [or were adopted by same]”
    Good idea. When will the liberals stop voting for the Kennedys and the Cuomos?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Grant View Post
    Actually, if you were to look at the data I provided, it is shrinking.
    Only if I, like you, badly misread it. Because the link you gave (( List of countries by public debt - Wikipedia, the free encyclopedia )) does not even show debt versus time.

    Here are the Canadian Federal debt numbers by themselves (as opposed to the total of all levels of government debt I provided earlier).

    Canadian public debt - Wikipedia, the free encyclopedia

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    Only if I, like you, badly misread it. Because the link you gave (( List of countries by public debt - Wikipedia, the free encyclopedia )) does not even show debt versus time.
    So what? Aren't we looking at current debt?

    Here are the Canadian Federal debt numbers by themselves (as opposed to the total of all levels of government debt I provided earlier).

    Canadian public debt - Wikipedia, the free encyclopedia
    And here is the American version. Check out the debt versus GDP differences.

    http://en.wikipedia.org/wiki/United_States_public_debt

    Still have no idea why companies are fleeing the US?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Grant View Post
    So what? Aren’t we looking at current debt?
    You said shrinking. That is a statement about change over time, which you were asserting based on data that only gave one point in time. You have been shown wrong, in a couple of ways.
    And here is the American version. Check out the debt versus GDP differences.

    United States public debt - Wikipedia, the free encyclopedia

    Still have no idea why companies are fleeing the US?
    Just to be clear, comparing between those two is an apples and oranges comparison. Distribution of public debt is different in Canada. Provinces can and do run deficit budgets, in ways that States generally do not. That is why a good deal of the 2009 stimulus was passed on to States, to help backfill their budget shortfalls.

    That is why I used the other far more equatable numbers, rather than just the CDN Fed numbers, in prior posts.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    Just to be clear, comparing between those two is an apples and oranges comparison..
    So much for your "pop quiz" then.

    Quote Originally Posted by Dwight
    Pop quiz, how do does Canada and the US compare on ratio of yearly government expenditures (total of all levels of government) as a percentage of GDP:
    1) USA’s expenditure ratio is notably higher
    2) roughly the same
    3) Canada’s expenditure ratio is notably higher

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Grant View Post
    Actually, if you were to look at the data I provided, it is shrinking.
    Our debt isn't shrinking, but we are on track to having a balanced budget within the next couple years. Something the US could only dream of.
    "After all, you know, there are worse things in life than death. I mean, if you've ever spent an evening with an insurance salesman, you know exactly what I mean."
    -Woody Allen

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by fredmertzz View Post
    Can Trillion Dollar Coins Save the Economy? - Yahoo! News

    I just don't understand the argument for this solution. In my mind, this is an equivalent of defaulting on our debt.

    But when I think of differently, from the 'inflation' standpoint instead, it seems this is exactly what all of us "Flat-Tax" promoters have been asking for...

    If $1T were created to pay down the debt, which equally devalued every dollar in the economy equally, say by 5%, we would all have a buying-power income decrease of 5%. Whether you make $1M/yr or $20k/yr, your pay is decreased 5%...

    For once, I won't argue w/ the Keynesians - you go ahead and do what you think is best. You'll be your own undoing.
    The whole of point the "coin" is to show how stupid a default on our debt would be. It would be melted down as soon as Congress decided they wanted to pay our bills again.
    The "debt ceiling" is a manufactured "crisis" being used as an excuse to play Russian roulette with all our jobs. Do you think a trillion dollar coin is any more stupid?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Grant View Post
    So much for your "pop quiz" then.
    Not if you read it. It says “total of all levels of government”, not to mention it does not say anything about debt.

    Oh man, it must be wholly embarrassing to be you right now.

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