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View Diary: Balanced Budget for all Years is Incredibly Stupid (11 comments)

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  •  The total deficit = dollars in the private (0+ / 0-)

    Sector to a penny.

    If you pay the deficit to 0, you'd have 0 dollars in the private sector.

    At the fed level, currency is an accounting entry.  It does not represent real wealth of labor or resources.

    Dollars in the private do, of course.

    When you want to balance the current account balance in order to have a smaller number, there should be a good reason as to why people are being asked to spend their representations of real wealth in order to save the numerical system.

    Which is what the national deficit "borrows" from whenever Treasury "borrows" from The Fed Reserve.

    And may goddess help us as we will be made to sacrifice in order to save the numerical system.

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