Manufactured debt crisis–US has more than enough money
Newscast Media HOUSTON, Texas—For the past few years, we’ve been led to believe that America has a debt crisis. A crisis is constantly being created where none exists. At the end of the year, the Obama administration was making a lot of noise about the fiscal cliff. It came and went—America was still intact. We then recently had to endure those who catastrophized the sequester.
“Are you willing to see a bunch of first responders lose their job because you want to protect some special interest tax loophole?” Obama asked Republicans. “Are you willing to have teachers laid off, or kids not have access to Head Start, or deeper cuts in student loan programs just because you want to protect a special tax interest loophole that the vast majority of Americans don’t benefit from? That’s the choice, that’s the question.” he added.
Meanwhile, the national debt continues to grow. Both Republicans and Democrats do not seem to be interested in balancing the budget. Someone suggested that if Obama really wanted to see the budget balanced, he would give the congressmen and senators an ultimatum: “Balance the budget, or else you don’t get a salary.” With such a strong stance, the budget would be balanced.
Speaker Boehner had this to say about the deficit: “Without a plan to control spending and balance the budget, our national debt will keep piling up on the backs of our children and grandchildren; our most important safety net programs will grow weaker and weaker, and the prospects for long-term economic growth will dim.”
The New York Times has a piece comparing this manufactured debt crisis to the manufactured narrative about Iraq possessing weapons of mass destruction. Paul Krugman then asks and answers his own question: “So did our political elite and our news media learn from this experience? It sure doesn’t look like it.”
In regard to paying off the Federal/National debt, a retired judicial official who wishes to remain anonymous says the government is lying to the people.
“The money they have been borrowing since 1933 is not real money but “negotiable debt instruments,” which is the same thing as Monopoly money. This means that, in order to pay off the Federal/National debt, all they ever have to do is print a money order without any account numbers on it for the entire debt, sign it and present it to the lender [The Federal Reserve Bank] and the debt is paid in full!”