Posts Tagged ‘causes’
Debt and the Money Supply
These are troubling times for our country. This recession, touted as the biggest since the great depression, has everybody running scared. Obama loves ratcheting up fear about it when he addresses our nation. Of course, he is just following the Big Brother game plan. In order to subdue the masses into accepting your seemingly tyrannical proposals, you must frighten them into submission. And even though the republican president who just left office also passed a huge TARP bill costing our nation over $1 trillion and was a huge predictable failure, republicans are now acting as if they care about too much spending.
Our government added around $1.5 trillion dollars to its total debt in 2008, bringing the new total to right at $10.7 trillion. That number, of course, does not take into effect future obligations. All in all, our government owes $65.5 trillion now and in the future. Do you think the current politicians are going to be blamed for bankrupting our country when the full debt starts coming due? Obama will be a distant memory in 2030 or 2050, which are estimated to be the times when we finally wreak the fruits of our massive government spending. But how can our government currently owe $10.7 trillion when based on the M1, only around $1.4 to $1.5 trillion in actual cash and coin exists? The main reason is our money is created out of nothing.
