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View Diary: Should Americans Forgive the $2.5 Trillion Borrowed From Social Security? (181 comments)

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  •  Um, what is money? A unit of account, nothing (1+ / 0-)
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    Calamity Jean


    We're no longer on the gold standard.

    What does it mean to borrow or pay back, say inches or miles?

    How difficult is that to do when you have an inches making machine?  Lol.

    Fiat money doesn't ever have to be paid back, just as inches don't have to.  

    They're infinite.  As all non-tangible things are.

    •  Take your brainless MMT somewhere else. (0+ / 0-)

      It doesn't begin to address this fundamental problem, which is not about units of account.

      To put the torture behind us is, inevitably, to put it in front of us.

      by UntimelyRippd on Mon Dec 03, 2012 at 08:42:41 AM PST

      [ Parent ]

      •  Do we have the real resources to take care of the (0+ / 0-)


        So far, the answer seems to be:  Yes.

        A discussion of SS that ignores that is brainless.

        And no, I don't mean that every person always has to mention this fact in every single thing they say/write.

        But big picture, that's the most fundamental question.

        And if money isn't a unit of account, what is it?

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