National Debt Myth

[ralfy]

Conservatives support big government by wanting the US to be a giant military spending, forcing social conservatism on people who don't want it and corporate subsidies.

If the debt is such a big problem, why didn't the GOP reduce it from 2002 to 2004 or 2017 to 2019 when they had Congress and the White House? Did the trillion dollars spent on Iraq pay for itself or did it get added to the debt?

They want big government for the military industrial complex, or neoconservatism, but also want small government in favor of free market capitalism, which is neoliberalism.

Meanwhile, liberals want big government for more regulations, which is social conservatism but also involves socialism, but also small government because free market capitalism also involves individual liberties and liberal democracies.

Both need each other because free market capitalism involves deregulation needed to increase credit, which in turn is needed to support a military industrial complex and structural adjustment necessary to control other countries and keep the dollar propped up, and thus continue credit increase.

 

[NoMoreDems-Reps]

Although a government with a sovereign fiat currency like the USD, which "prints" (i.e. types the amount into a computer keyboard at the FED), can't inject as much money into the economy as it wants due to hyperinflation, it can easily have a budget that is 10%, 20%, 40% the nation's GDP (i.e. Gross Domestic Product = Nation's Production Capacity). The US federal government will never go insolvent or not have enough USD, as Senator Paul Ryan suggests here, when he is correct by Greenspan:

So you believe we can just print money???.....
Well "IF" you were right then we could end world hunger today and turn every American in to a Billionaire!.....

Go see if you can pay off you portion of this Myth!
Also ask yourself if the Politicians in DC have done a Good job using "The US Tax Payers Money"!
https://www.usdebtclock.org/

Once other Countries (China) stop buying our Debt things are going to get bad !
And Biden made it worse by Stopping Trumps Policies that made the US Energy INDEPENDENT !

 

[Cynical]

So you believe we can just print money???.....
Well "IF" you were right then we could end world hunger today and turn every American in to a Billionaire!.....

Go see if you can pay off you portion of this Myth!
Also ask yourself if the Politicians in DC have done a Good job using "The US Tax Payers Money"!
https://www.usdebtclock.org/

Once other Countries (China) stop buying our Debt things are going to get bad !
And Biden made it worse by Stopping Trumps Policies that made the US Energy INDEPENDENT !

If the answer to solve all problems is to simply print money as the OP suggests then surely any government can do so, correct? And if they have not either well then why not?

 

[neo publius]

What you are missing is that the more money that is created is no longer a function of economy. We need to have enough “dollars” as the population expands. However, this is a keep the wealthy rich scheme. The larger the government gets the poorer the taxpayers get. It’s a ratio. The largest employer is the federal government, and their paychecks, and benefits are funded by taxpayers. So your little theory may work technically but the private sector is shrinking in relation to government spending. That’s what makes you less free. You are becoming enslaved to the system you are advocating.

Macro Econ is not a strong point among this forum.

 

[ralfy]

Much of the credit is created by the private sector, especially banks and other financial institutions.

Worldwide, the largest component of credit is derivatives, with a notional value of over a quadrillion dollars.