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Wednesday
Feb132013

US Money Turning Into Leaves

I love it when the left speak candidly and let you know what they really think or believe.

A discussion began to the following comment from Senator Ayotte (taken from WMUR.com as the version posted on Blue Hampshire is edited):

"While I welcome the president's openness to simplifying our tax code to spur economic growth, as well as his acknowledgment that we must reform Medicare to preserve it, I'm concerned that he proposed many new programs without saying how we could afford them. With over $16 trillion in debt and the economic challenges we face, we need to enact a large deficit reduction plan that includes tax reform and entitlement reform, and a Balanced Budget Amendment to put permanent limits on Washington spending."
– Senator Kelly Ayotte

Fair statement, right?  After all if we are going to spend money on something we in turn need to find a way to pay for what we're spending.

Here are two responses found in the discussion posted HERE:

Somebody needs to tell Senator Ayotte that the federal government is where our money comes from. All dollars, whether in circulation or stored in some bank, are nothing but certified IOUs — i.e. debt, what somebody owes to somebody else. A country that prints its own money can never run out. - hannah

That’s a concept way above Ayotte’s pay level to understand. She doesn’t get it. She needs to be replaced ASAP. The only thing she seems to do is get her picture taken with angry old white men, like McCain and Graham and McConnell. - mevansnh

Wow!

So in liberal land, money doesn't need to be backed by anything.  We as a country just keep printing more with the promise that someday down the road we'll pay it back or perhaps our kids or their kids will.

I wonder how long that would work in our private lives?

If I want food for lunch, don't worry... here's an IOU, I'll pay you back some other time.

I need new cloths?  Here's another IOU, I'll pay you back some other time.

New car, sure... here's another IOU.

How about a nice house too... here take this IOU.

At some point the cook who made my food, the tailor who made my cloths, factory who made my car and contractors who built my house will want something in return for the value they provided me.  Empty promises just don't work.

Government is no different.

For our dollars to be worth something when we trade with other countries they need to be backed by something.  Empty promises while we continue to print more and more money with nothing backing it only lowers the value of that money and eventually it will be viewed as no different then the leaves on a tree.  Every year more and more will drop with nothing backing them.

 

Reader Comments (1)

Mikey Evans was never top of his teacher's union heap in either book or street smarts. I'm not at all surprised he thinks money grows on the cherry trees along the Potomac, and it's there for the pols plucking. He daily demonstrates why school choice should be issue number one on the agenda of those wishing to be free of the Grate State drones and the apparatchik that sustains them. Maybe someone could print up few greenbacks to buy Mikey a sody-pop on Uncle Sammy's account.
– C. dog sniffs out another Concord Moronitor troll
February 14, 2013 | Unregistered CommenterC. dog

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