American Dept: Hard to comprehend? remove some zeros...
- Thread starter WasntMe
- Start date
BlackOpsJesus
Member
i miss Clinton already
you miss the tech bubble or the cigar?
Definitely the cigar...
G
gloryoskie
"Pretend its a household budget"
That's the rub now isn't it?
Unlike a private family, the nation need never pay off its debt. Instead, each time the principal is due, the U.S. Treasury can simply ‘roll it over’ by floating more debt. Indeed, this is precisely what the Treasury does.
Since 1957.
Also, the U.S. government is completely different from a household, starting with the government’s basic ability to tax and to print money. And that means it’s often misleading to use household comparisons as easy policy guides.
So there.
That's the rub now isn't it?
Unlike a private family, the nation need never pay off its debt. Instead, each time the principal is due, the U.S. Treasury can simply ‘roll it over’ by floating more debt. Indeed, this is precisely what the Treasury does.
Since 1957.
Also, the U.S. government is completely different from a household, starting with the government’s basic ability to tax and to print money. And that means it’s often misleading to use household comparisons as easy policy guides.
So there.
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Latest posts
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question for sam the skunkman on the original haze
- Latest: exoticrobotic
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