Where Do We Borrow It From?
Mr. Speaker:
When we speak of running up a $2 trillion debt to pay for this year of unprecedented spending, where does that money come from?
We don’t have it, and so we borrow it.
Where do we borrow it from? We will borrow that $2 trillion from the same pool of funds that would otherwise have been available for businesses seeking to add jobs, or homebuyers seeking to buy homes or consumers seeking to buy new cars or appliances.
But now that money won’t be there for consumers or homebuyers or employers to borrow to expand the economy, because government has borrowed it instead to expand such government programs as the National Endowment for the Arts.
Mr. Speaker, when are we going to stop hurting the economy and start helping it?
- Login or register to post comments
- Share This
well said! next question:
well said!
next question: when are we going to make a payment on the debt?
NO Bailouts NO Stimulus
NO Bailouts
NO Stimulus package
We can NOT prop up the artificial inflated prices of the bubble on the backs of ours, our children's and our grandchildren's future production.
Debt can NOT be paid with more debt
The debt needs to be defaulted so we re-set and move on
The banks owe 100s that is HUNDREDS of TRILLIONS of dollars in derivatives (CDS) and there is NO WAY we as a country will be able to pay this for them— nor should we.
Any money put to bail out the banks is sinking into the black hole which is why our M1 Multiplier is at .88
ANY stimulus that gets approved will not only take away our future production to pay for principal we will also have to pay the interest and this in of itself is deflationary.
Also, what congress givith, the bond market will taketh away so if we get some type of rebate, the interest rates will rise
AND as the Congress borrows more and interest rates rise, we run the risk of a bond market dislocation, country downgrade or outright default because we will be unable to service our current debt
No country's Currency has EVER survived printing their way out of debt
But countries have survived depressions.
One solution would be make some new banks and IPO them to get the money back.
we would then have clean banks to work with rather than the insolvent Zombies we have now.
Keep up the good fight and let me know what I can to to help,
Cindi
I got your automated phone
I got your automated phone call, please don't do it again. It would be great if you could come up with something positive and quit sitting on your ass and throwing stones. OK, you want to see the president fail, I get that,,,,what would you do to get us out of this mess...Keep working party lines, I perosnally am extremely tired of that tactic....