Re: jar manipulates and attempts to frame arguments
quote:You bring up a point I want to emphasize. The problem of the debt is not due to any one political party or ideology. An argument can easily be made that the debt was raised over the years under the administrations of both Democrats and republicans. Debt is debt...whether it be from a tax cut or a stimulus.
Failing to distinguish between correct management and mismanagement is a problem. When the economy is in trouble it is widely accepted that extra borrowing is necessary. When the economy is in good health the debt should be paid down. Debt taken on solely to maintain spending while reducing income is folly. That last point is one conservatives should agree with (Margaret Thatcher did!). It seems that many Republicans do not.
So, yes there are distinctions related to how the money raised is spent and they are important.
quote:Of course, it was sarcastic. Sometimes you guys insult me by imagining yourselves far smarter than I. I may correct you on that 300 billion servicing figure. It is now twice that, based on 9%. The latest figure was 2020 and it was over 500 billion.
I don’t know how you get “based on 9%”. The 2021 figure is over $520 billion dollars but that’s about 2% of the debt.
I don’t know where you got the 300 billion figure you’re objecting to either (I can’t see it in this thread).
quote:And the problem with the dollar being backed by production is that the US is not an efficient producer anymore. We have a financial system driven upwards as of late only through artificially infused stimulus.
COVID has affected everyone, so I think you need to exclude stimulus to counter that.
quote:…. I wonder if any of you know or care that the human productive backing of goods and services will not help us if the dollar becomes global
This doesn’t make sense. What does it mean for the dollar to “become global”? Why would it affect the backing from the US economy?
quote:....nor will it help us if any other currency takes its place.
I don’t see why that would be true, either. The backing would remain. Demand for dollars might fall, and with it the international value, but there’s a negative feedback there. US production would become cheaper on an international scale.
quote:I hope that I am not coming across as too delusional.
What you are saying doesn’t seem to make a lot of sense.