Skip to main content

View Diary: How to 'Cure' the National Debt Hysteria?  Re-link our Debt from GDP, to Revenue (13 comments)

Comment Preferences

  •  Good point (1+ / 0-)
    Recommended by:
    jamess

    Though getting that through the thick heads of the people in Congress may not be so easy. Don't forget that there are plenty of corporate dems in our party who aren't leaping for joy at the chance to fix the problem either.

    •  if we change the metrics (0+ / 0-)

      the corporatists will eventually follow

      -- that or risk the wrath of Tea.

      •  The corporatists need to understand basic (1+ / 0-)
        Recommended by:
        jamess

        national accounting, as the US does not balance a check book to begin with.  It doesn't have a check book.  It has a money making machine and creates dollars out of thin air in order to fund the private sector with it's incomes.

        And actually, many corporate folk are perfectly aware of this, but they use analogies to households to confuse both average folk and our stupid representatives.

        Corporations know that dollars are their means to record in their private ledgers a net financial asset, and have no intention of reducing the deficit, cuz the deficit = their income.

        And they know that the total deficit is merely an accounting number keeping score of how many dollars are in the private sector.

        What they want is to be the first in line when the fed gov funds the public sector to purchase from, and make grants to, members of the private sector.

        Their deficit hysteria is to scare the average person into believing that, like households, the US might run out of dollars, and/or the deficit will leave a burden on their grandchildren.

        As if accounting marks ever burden anyone.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site