There is a big difference that applies to “Federal Spending” that does not apply elsewhere. Citizens cannot print money. State and local governments can’t print money. WE have to either work, trade, or levy taxes to raise money. The Federal Govt doesn’t have that limitation. Say the Pentagon wants to build a new fleet of 20 massive Aircraft carriers for the Navy. Say they will cost 20 billion dollars each, that would be $400 billion dollars. Congress authorizes the expenditure, and I don’t know the exact technical details, but basically the President or somebody calls down to the Treasury, and they print money, or make a direct deposit to the Pentagons bank account. So, ideas related to having a “budget” with limited income and limited expenses DOES NOT APPLY TO THE FEDERAL GOVERNMENT. So please stop trying to bullshit us into believing that there is a spending crisis. Respectfully, Driverguy7.wordpress.com ( I wrote this in response to an article on the website: SpendingCrisis.org )
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This entry was posted on August 18, 2010 at 4:45 pm and is filed under Comments on an article. You can follow any responses to this entry through the RSS 2.0 feed.
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400 Billion Dollars….
There is a big difference that applies to “Federal Spending” that does not apply elsewhere. Citizens cannot print money. State and local governments can’t print money. WE have to either work, trade, or levy taxes to raise money. The Federal Govt doesn’t have that limitation. Say the Pentagon wants to build a new fleet of 20 massive Aircraft carriers for the Navy. Say they will cost 20 billion dollars each, that would be $400 billion dollars. Congress authorizes the expenditure, and I don’t know the exact technical details, but basically the President or somebody calls down to the Treasury, and they print money, or make a direct deposit to the Pentagons bank account. So, ideas related to having a “budget” with limited income and limited expenses DOES NOT APPLY TO THE FEDERAL GOVERNMENT. So please stop trying to bullshit us into believing that there is a spending crisis. Respectfully, Driverguy7.wordpress.com ( I wrote this in response to an article on the website: SpendingCrisis.org )
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This entry was posted on August 18, 2010 at 4:45 pm and is filed under Comments on an article. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.