Morality is not determined by the church you attend nor the faith you embrace. It is determined by the quality of your character and the positive impact you have on those you meet along your journey
Facts that the baggers will never understand. They are way too stupid, and believe that Obama spent all 14 Trillion by himself. And they also continue to believe that Social Security will have us bankrupt yet, they don't want "their" SS entitlements touch.
That stench you smell is the fetid waters of DeNile that come from any RWNJ who sees these stats.
It disgusts me that luntz, rove et al. still keep pushing their pack of lies on the American people trying to prey on their fears and misinformed views.
Thank you so much for posting this.....clear, concise and easy to understand (for those of us with a brain). I hope this is plastered everywhere till Nov, shove it down every ignorant shithead Republican throat,make that a mailing. Colbert did a hilarious bit last night how the gov of Hawaii bought her own cable channel to run for the senate. He's like...what a great idea, maybe Obama and Romney should try it, ah wait....Romney already has one. LOL..Fox
This chart is one reason why I sometimes push back on the idea that the TeaBaggers are racists. It's beyond that: They're just dumb. Bush 43 ran up the debt, no complaints. Obama is inaugurated, and boy are they upset at how much the government is spending. But this pattern of ignoring government debt with Rethuglicans in office and then having a "Casablanca" moment only when we have a Democratic president is something we saw when Clinton took office. All these conservatives are suddenly shocked, shocked I tell you, at how much the government is spending.
I've got HUNDREDS of pictures of signs from teabagger rallies that fairly conclusively proves they are not only dumb, but to a startlingly high degree, racist as well.
I have seen the pictures. Yes, they are racist. But if we had a white, male, Democratic president right now pushing the same policies, I think Rethuglicans would be just as obstructionist (if that is a real word) as they are now. They don't just hate black people. They hate anyone who is different than they are: atheists, gay people, city dwellers, people with "elitist" college degrees. Having a black president just makes the ugliness and nastiness in some people's heads more obvious.
Remember, a lot of people said ugly and bizarre things about the Clintons. And some think the real estate crisis is the fault of JFK, LBJ and/or Jimmy Carter.
In summary, just because a Tea Bagger hates black people does not mean they do not also hate a lot of white people.
when I mentioned that HE had put TWO WARS on CREDIT.
Just. "Forget. It".
(THEN she went into her BS story about the Uppity Michelle Obama "closing down Harrod's dept. store in london - on the TAXPAYER's dime!!)
Truly a stunning argument:
TWO. WARS. which have cost LIVES, not to mention the WOUNDED, and the TOLL it's taken on our military families,
but a shopping trip, of a few hours (that, incidentally, I couldn't find ANY information about online to even VERIFY it. I should have checked the FOX archives, I guess).
There were no wars on credit. I used to believe that too, until I realized the United States is the issuer of its own currency. Because of this, IT CAN PRINT (mostly via electronic transfers) ANY AMOUNT of currency into bank accounts. When soldiers get paid, military contractors get paid and military support gets paid and so on and so forth, the money goes right into our huge economy. This is basically called deficit spending. The fact is, the government could just as easily spend money into the economy for Social Security, Medicare, Education, Science and Technology or Infrastructure and other worthwhile ventures actually benefiting us all. Since the US debt is denominated in dollars , it is the safest form of debt. The nation can't go bankrupt unless it wants to. With the economy stalled, vast under employment and unemployment as well as excess capacity-There is no fear of runaway inflation. Inflation is based both on supply and demand. Here are some up to the minute "money printing" fun facts to share with your friends:
1. Dollar Index on 9/19/2011: 77.14 2. Gold price on 9/19/2011: $1803 per ounce 3. Dollars "printed" in past year according to US Treasury: $65 TRILLION 4. Dollar Index today: 79.05 5. Gold price today: $1770 per ounce Dollar is UP. Gold is down.
Dollar debasement and inflation? NOWHERE IN SIGHT!
I wanted to give you some facts and information about what that “debt” really is so that you are well informed and can talk about it intelligently.
First it’s important to understand that the U.S. is not on a gold standard or some system of convertibility such as a fixed exchange rate or something, so there is nothing “backing” the U.S. dollar. What gives the dollar value is the fact that it is the only thing accepted by the government for the payment of taxes and since most people need dollars to satisfy some tax liability this creates demand for the currency. Furthermore, dollars circulate widely and are used as a “unit of account” or means of exchange because our economy doesn’t transact in barter, but rather, we use currency because it’s simpler and easier.
Since there is nothing backing the dollar the act of spending by the government merely involves electronically crediting bank accounts with dollars (or debiting them, when it collects taxes) and there is no limit to the degree that it can do this. All dollars in the world today, whether they be held by individuals, firms or foreigners (and even foreign nations) are created when the government spends and that is the ONLY way that dollars can come into existence. Furthermore, in order for the non-government (you, me, businesses, rest of the world, etc) to have dollars in our pocket or bank account the government has to spend more than it taxes. If it did the opposite—tax more than it spent—then all dollars in the world would soon disappear.
The $16 trillion national “debt” is not really a debt, but merely the sum total of all dollars spent minus all taxes collected over the past 234 years. In other words, $16 trillion of net dollars have been created in the past 234 years and they are floating around out there in the global economy. There are all kinds of reasons that the government spends, but the main reason is that people, firms and foreign nations desire to hold dollars so they end up selling their goods and services and labor to the government in order to accumulate and “have” dollars. This is really what creates deficits, not some arbitrary decision by the government to spend such and such, but rather, the desire by people to “net save” in the government’s unit of account, namely, the dollar.
While the $16 trillion may be a debt or liability to the government, it is not a liability it can never meet because it is denominated in its own currency.
Now we have established that the debt of the government ($16 trillion, whatever) represents a debt or promise that the government has absolutely NO PROBLEM satisfying or keeping, but remember, for every debt (liability) there is a credit (asset). Then who holds the asset side? That’s us, the people. The government’s debt equals the private sector’s asset. The $16 trillion of dollars spent in excess of taxes collected reside with the public and the public holds these dollars, mostly, in the form of Treasury securities that are like government savings accounts or CD’s (Certificates of Deposit). If the government were to “balance” its books or eliminate its debt, it would have to take back, probably through taxation or some other confiscatory measure, those $16 trillion that the public holds. That would reduce the public’s wealth by $16 trillion. That is the ONLY way that the government can eliminate its debt. Would that be a good thing? Hard to see how it would, yet that’s what people are calling for.
So that’s it, an explanation of the government “debt.” And the next time someone tries to scare you about this or point to that Debt Clock in Times Square, you ask them where the Asset Clock is. There is none, but there should be, because for every liability there is an asset. It’s just basic accounting. The fact that there is never a discussion of the asset side of the balance sheet is proof that the fear mongers who talk about the debt are either ignorant or intentionally trying to manipulate you into believing something that is not true.
Facts that the baggers will never understand. They are way too stupid, and believe that Obama spent all 14 Trillion by himself. And they also continue to believe that Social Security will have us bankrupt yet, they don't want "their" SS entitlements touch.
ReplyDeleteThat stench you smell is the fetid waters of DeNile that come from any RWNJ who sees these stats.
ReplyDeleteIt disgusts me that luntz, rove et al. still keep pushing their pack of lies on the American people trying to prey on their fears and misinformed views.
Jesse, I sent this to everyone in my address book.
ReplyDeleteThank you so much for posting this.....clear, concise and easy to understand (for those of us with a brain). I hope this is plastered everywhere till Nov, shove it down every ignorant shithead Republican throat,make that a mailing.
ReplyDeleteColbert did a hilarious bit last night how the gov of Hawaii bought her own cable channel to run for the senate. He's like...what a great idea, maybe Obama and Romney should try it, ah wait....Romney already has one. LOL..Fox
Hmm, I'm trying to wrap my brain around the physiological paradox that is the "shithead throat."
DeleteI don't suppose you have any pictures?
Great chart. I will definitely link to it.
ReplyDeleteThanks!
This chart is one reason why I sometimes push back on the idea that the TeaBaggers are racists. It's beyond that: They're just dumb. Bush 43 ran up the debt, no complaints. Obama is inaugurated, and boy are they upset at how much the government is spending. But this pattern of ignoring government debt with Rethuglicans in office and then having a "Casablanca" moment only when we have a Democratic president is something we saw when Clinton took office. All these conservatives are suddenly shocked, shocked I tell you, at how much the government is spending.
ReplyDelete99% of baggers are racist.
DeleteI've got HUNDREDS of pictures of signs from teabagger rallies that fairly conclusively proves they are not only dumb, but to a startlingly high degree, racist as well.
DeleteTo Gasman @5:59:
DeleteI have seen the pictures. Yes, they are racist. But if we had a white, male, Democratic president right now pushing the same policies, I think Rethuglicans would be just as obstructionist (if that is a real word) as they are now. They don't just hate black people. They hate anyone who is different than they are: atheists, gay people, city dwellers, people with "elitist" college degrees. Having a black president just makes the ugliness and nastiness in some people's heads more obvious.
Remember, a lot of people said ugly and bizarre things about the Clintons. And some think the real estate crisis is the fault of JFK, LBJ and/or Jimmy Carter.
In summary, just because a Tea Bagger hates black people does not mean they do not also hate a lot of white people.
My RWNJ mother actually said: FORGET BUSH!
Deletewhen I mentioned that HE had put TWO WARS on CREDIT.
Just. "Forget. It".
(THEN she went into her BS story about the Uppity Michelle Obama "closing down Harrod's dept. store in london - on the TAXPAYER's dime!!)
Truly a stunning argument:
TWO. WARS. which have cost LIVES, not to mention the WOUNDED, and the TOLL it's taken on our military families,
but a shopping trip, of a few hours (that, incidentally, I couldn't find ANY information about online to even VERIFY it. I should have checked the FOX archives, I guess).
There were no wars on credit. I used to believe that too, until I realized the United States is the issuer of its own currency. Because of this, IT CAN PRINT (mostly via electronic transfers) ANY AMOUNT of currency into bank accounts. When soldiers get paid, military contractors get paid and military support gets paid and so on and so forth, the money goes right into our huge economy. This is basically called deficit spending. The fact is, the government could just as easily spend money into the economy for Social Security, Medicare, Education, Science and Technology or Infrastructure and other worthwhile ventures actually benefiting us all. Since the US debt is denominated in dollars , it is the safest form of debt. The nation can't go bankrupt unless it wants to. With the economy stalled, vast under employment and unemployment as well as excess capacity-There is no fear of runaway inflation. Inflation is based both on supply and demand.
DeleteHere are some up to the minute "money printing" fun facts to share with your friends:
1. Dollar Index on 9/19/2011: 77.14
2. Gold price on 9/19/2011: $1803 per ounce
3. Dollars "printed" in past year according to US Treasury: $65 TRILLION
4. Dollar Index today: 79.05
5. Gold price today: $1770 per ounce
Dollar is UP.
Gold is down.
Dollar debasement and inflation? NOWHERE IN SIGHT!
Bush was forced to do those things
ReplyDeleteSnark? Has to be. No one is this dumb.
DeleteI wanted to give you some facts and information about what that “debt” really is so that you are well informed and can talk about it intelligently.
ReplyDeleteFirst it’s important to understand that the U.S. is not on a gold standard or some system of convertibility such as a fixed exchange rate or something, so there is nothing “backing” the U.S. dollar. What gives the dollar value is the fact that it is the only thing accepted by the government for the payment of taxes and since most people need dollars to satisfy some tax liability this creates demand for the currency. Furthermore, dollars circulate widely and are used as a “unit of account” or means of exchange because our economy doesn’t transact in barter, but rather, we use currency because it’s simpler and easier.
Since there is nothing backing the dollar the act of spending by the government merely involves electronically crediting bank accounts with dollars (or debiting them, when it collects taxes) and there is no limit to the degree that it can do this. All dollars in the world today, whether they be held by individuals, firms or foreigners (and even foreign nations) are created when the government spends and that is the ONLY way that dollars can come into existence. Furthermore, in order for the non-government (you, me, businesses, rest of the world, etc) to have dollars in our pocket or bank account the government has to spend more than it taxes. If it did the opposite—tax more than it spent—then all dollars in the world would soon disappear.
The $16 trillion national “debt” is not really a debt, but merely the sum total of all dollars spent minus all taxes collected over the past 234 years. In other words, $16 trillion of net dollars have been created in the past 234 years and they are floating around out there in the global economy. There are all kinds of reasons that the government spends, but the main reason is that people, firms and foreign nations desire to hold dollars so they end up selling their goods and services and labor to the government in order to accumulate and “have” dollars. This is really what creates deficits, not some arbitrary decision by the government to spend such and such, but rather, the desire by people to “net save” in the government’s unit of account, namely, the dollar.
While the $16 trillion may be a debt or liability to the government, it is not a liability it can never meet because it is denominated in its own currency.
Now we have established that the debt of the government ($16 trillion, whatever) represents a debt or promise that the government has absolutely NO PROBLEM satisfying or keeping, but remember, for every debt (liability) there is a credit (asset). Then who holds the asset side? That’s us, the people. The government’s debt equals the private sector’s asset. The $16 trillion of dollars spent in excess of taxes collected reside with the public and the public holds these dollars, mostly, in the form of Treasury securities that are like government savings accounts or CD’s (Certificates of Deposit). If the government were to “balance” its books or eliminate its debt, it would have to take back, probably through taxation or some other confiscatory measure, those $16 trillion that the public holds. That would reduce the public’s wealth by $16 trillion. That is the ONLY way that the government can eliminate its debt. Would that be a good thing? Hard to see how it would, yet that’s what people are calling for.
So that’s it, an explanation of the government “debt.” And the next time someone tries to scare you about this or point to that Debt Clock in Times Square, you ask them where the Asset Clock is. There is none, but there should be, because for every liability there is an asset. It’s just basic accounting. The fact that there is never a discussion of the asset side of the balance sheet is proof that the fear mongers who talk about the debt are either ignorant or intentionally trying to manipulate you into believing something that is not true.