On Fri, 28 Dec 2012 15:43:06 -0700, Jim Thompson
wrote:

US Budget for Dummies.... (from http://tinyurl.com/cv3wlwx )

* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget:

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $38.50


...Jim Thompson

Ok, say a recent interview on this that might shine some light on
where the libs minds are.

The government has the ability to print money. If they liked, they
could just go out tomorrow and print enough money (actually, it is all
electronic, so lets change that) they could just credit all their
debtors with payments that would pay off their debt. And what would
happen? Would inflation immediately result? Not necessarily. You
see, you have to look at who OWNS all that debt.

The large amount is held BY THE US GOVERNMENT! (that is the SS trust
fund that gets bandied about...)

The majority is held by US Banks! When they get excess cash, they
just loan it to uncle sam. They have to do something with it. Wait,
I said cash. Sorry, I meant 'When they have excess credits on their
computers.' No real money ever changes hands at this level.

So, how about the Chinese and Eurobanks and others? Well, they had
excess dollars on their computers too, so to do something with it
(they couldn't just buy US PRODUCTS not could they!) They loaned it
to the US government.

So, really, why doesn't the Fed just declare all debts paid, and we
can all quit worrying? It is all about CONTROL! They use that debt
and the ability to tax, not because they need the money (they can
create that by the magic of computers!) No, they need taxes and debt
as a way to control and influence the populace and these other
nations.

the real problems is that they are cowards. They are afraid to try
and 'balance' the budget, because that would draw out too many funds
from the economy, but they are also afraid of just decaring the whole
charade over because then they loose all that nice control of people
that they have!