The national debt is simply the difference between tax revenues and government spending, nothing more and nothing less. The real figure is close to 92 Trillion dollars if you consider SS and medicaid/medicare-see the excerpt from the FRB speech I have posted here.
Is this in any way payable? No, decades of out of control spending and promises to spend spell the demise of the fantasy. It just won't happen.
The FR has nothing to do with the national debt, the debt has been created by decades of overspending by government.
The current "credit crunch" was ignited by government entities, namely Freddie Mac and Fannie Mae, being allowed to operate without proper oversight. There are several other factors involved, but this is the largest.
If you actually believe the drivel you have posted, by all means act on it, the loser comment wasn't directed at you but to the operators of the site.
Money is nothing but a convenient medium of exchange, it matters not if it is gold, paper, widgets or any other commodity-when you spend more than you make you create debt.
The imaginary and superficial argument your alleged talk show conversation generates is similar to a who's on first comedy spiel- entertaining, but not worth the keystrokes to parse. This fiction is posted on every conspiracy site out there, buy the whole thing and all of the conspiracy or ask yourself if the argument actually reflects reality. It makes no difference to me.
Last edited by jungle; 09-26-2008 at 09:31 AM.