Quote:
Originally posted by Flame Of Liberty+Dec 29 2004, 12:13 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Flame Of Liberty @ Dec 29 2004, 12:13 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-InTheSlot@Dec 29 2004, 05:26 PM
I think some of you are a little misinformed. The USA's national debt is not money we owe to other countries or people, but rather, money that we owe to ourselves (our country).
|
I see Reagonomics 101 and Abba Lerner are still in the minds of many people.
Government has incurred a huge public debt which must be paid by taxing one group on behalf of another and you try to obsucre this reality of burden by saying that "we owe it to ourselves."
OK.
Now can you explain who is "we" and who is "ourselves"? Are you saying those two are the same group? I hope not.
PS Who is "our country"? The government? All of people? Do trees and mountains count too?
Just asking. [/b][/quote]
@Flame Of Liberty:
Quote:
|
I see Reagonomics 101 and Abba Lerner are still in the minds of many people.
|
Very clever. Did you write that one yourself?
Quote:
|
Government has incurred a huge public debt which must be paid by taxing one group on behalf of another and you try to obsucre this reality of burden by saying that "we owe it to ourselves."
|
It's the truth. If you want to argue plain fact, be my guest.
Quote:
PS Who is "our country"? The government? All of people? Do trees and mountains count too?
Just asking.
|
What the ###### are you talking about? :unsure:
Also, here's an interesting tidbit of information, straight from the EXACT same website you got the clock from:
It helps to read buddy, especially if you're going to post something from a website without checking the rest of the information that's on there.
As you can see from the chart, each color represents a different part of our (the USA's) government. It is money that we owe to ourselves (the USA as a nation) because we have lent out money to other people/places/things. Again, if it were a debt we owe to other countries, then the pie-chart would have a key that lists the different countries we owe money to, rather than different government accounts. The reason we owe the money to ourselves and not other countries is because those other countries have already been paid back, and now we have to fund the moeny back to ourselves.
Think of it in simple terms as a bank. If a bank lends out money, the recipient has there money, and the bank is left with an empty pocket. The bank in this case would be the USA. We have lent out money to other people/things/places, and we are waiting to be reimbursed. If it is a country we lent money, they need to/will pay us back. When? Who the hell knows. If it's a government account we lent money to, such as the department of transportation for highway funding and things of that nature, then this is why we have to pay OURSELVES back. We lent money to one area of the government and now there's money missing elsewhere.
That's all.
Of course with all countries, you are going to have a debt of some amount that you owe to other countries and people, but that just is not at all what this "National Debt" clock pertains to whatsoever.
I await any sort of rebuttle you might have, Flame of Liberty.
