pyotr filipivich wrote:
Sorry Jim, but none of the
taxpayer's money is "the governments".


I'm saying the govt needs to reduce taxes

You say the govt should tax as much as it spends








The huge number of people that lost their jobs was because
the private sector stopped buying the goods and services
those workers produced.

You refuse to acknowledge the excess private sector debt
that created this mess because you can't fit those facts
into the fairy tales that you use to explain how reality works.

You might Nat to have someone explain how the Federal Government
made the housing bubble in the first place.

The federal govt didn't create the housing bubble or
the excessive private sector borrowing

The housing bubble was considered a triumph of
free market economics just a few years ago until
the day it all went to ****.
Then all of a sudden it became all the govt.'s doing.

This is fantasy economics derived from a total
unwillingness to accept personal responsibility.


The only way you are able to deal with the runaway private
sector debt is to claim it never happened.

How does runaway private debt relate tot he runaway public sector
debt?

There is no "runaway public sector debt".

At the beginning of the Great Depression (1930) the private sector
debt was 90% of total US debt and govt debt was 10% of total US debt
At the end of WW2 the govt debt was 60% of the total US debt
and the private sector debt was 40% of all US debt.

http://www.comstockfunds.com/files/NLPP00000/507.pdf

Then after WW2 for the next 70 years the private sector borrowed
more and more every year until by 2007 the private sector debt was
again at 90% of total US debt.

Now once again just like the 30's and 40's the private debt is
contracting.

Now the contraction of the private sector debt does not
caused the govt to run a deficit, but without the willing
effort of the federal govt to borrow what the private sector
wants to save - there will be deflation and a depression.

The only thing keeping the economy from going into a
depression is the federal borrowing that is balancing
private saving and deleveraging (just as it did during WW2)

The depression will arrive when Congress tries to
balance the budget.


And a nation in a long depression is not going to do
any better at balancing the federal budget than it is now.