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View Diary: The debt ceiling dance and the trillion dollar coin (218 comments)

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  •  and one more thing... (5+ / 0-)

    ...is that we should not in any way get sucked in to the false idea that our federal government should balance its checkbook like a family would or a state would. The one thing that a federal government can do that neither families or states can do?

    Print Currency.

    You are being deluded by republican talking points when you suggest that our government should operate its finances like a typical household or a state.

    next you'll be saying we should go back to the gold standard.

    •  Can and SHOULD do (1+ / 0-)
      Recommended by:
      sillymortal
      The one thing that a federal government can do that neither families or states can do?

      Print Currency.

      In times of a slack economy, government can and should take up the slack, putting unemployed people to work, and paying them with money that's either borrowed or conjured out of nowhere.  In times of 'full' employment, government should keep the economy from overheating by paying down the debt and/or taking money out of circulation.  
      In those good times, the market is doing its job of putting people to work where their labor produces the most.  But in hard times like the Great Depression, and now (which Paul Krugman has started calling the Lesser Depression), the market system lets lots of people languish unemployed, wasting their potentially productive years.  Government should step in.  Didn't we learn that in the 1930's?

      We're all pretty strange one way or another; some of us just hide it better. "Normal" is a dryer setting.

      by david78209 on Sun Jul 31, 2011 at 11:04:08 AM PDT

      [ Parent ]

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