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Sending your money to the federal government is like pouring your dollars into the toilet
The federal government is “Monetarily Sovereign.” That means, it creates all the money it spends by pressing computer keys. It never, never, never can run short of dollars. Even if the federal government didn’t collect a single penny in taxes, it could continue to spend forever. Who says so? Fed Chairman, Alan Greenspan: “A government cannot become insolvent with respect to obligations in its…
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A riptide of econimic ignorance
The following article appeared in the June 7 edition of THIS WEEK Magazine: A riptide of economic ignorance Americans can’t possibly be this ignorant about the economy, can they? Asked Catherine Rampbell of the Washington Post. According to a recent Harris-Guardian poll most Americans (55%) think that the country is currently in a recession. The poll “also found that roughly half (49%) of…
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