Think Freely Media presents Common Sense with Paul Jacob

There are two things I don’t understand.

Actually, there are many things I don’t understand, but what I’m thinking about, now, is how one can honestly defend massive government deficits in one of the two usual ways.

The first defense became a cliché while I still wore footsie pajamas: Deficits don’t matter because we owe the debt “to ourselves.”

The truth? More complicated. Some people buy debt; others don’t. Were we to “forgive us our debts” (to appropriate a familiar phrase), we wouldn’t be forgiving what we owe “us,” but what the “U.S.” owes just those investors who’ve bought that debt.

And not even “everybody” owes the debt, since the taxes that would be collected, extra, to pay the debt might not come out of your pocket, or mine — it’ll come out of those pockets, over there. (Of course, you’re probably thinking, “I should be so lucky!”)

No wonder government debt is so tempting. On the surface it’s all inclusive. “We’re all in this together.” But beneath, it’s some folks trying to get one over on other folks.

Nasty, eh?

Then what about today’s excuse: “We owe it to folks overseas.” Since much of our governments’ debt gets bought up by investors abroad, we don’t have to worry about it because . . .

The unspoken thought is: “We’ll just renege on our promises.” Not pay it. Screw them.

Simple truth: Apologists for growing deficits flirt with mass theft from the government’s creditors.

This is Common Sense. I’m Paul Jacob.

By: Redactor

3 Comments

  1. Sooner or later We, The People, will, by first (one would pray and trust by way of our joint and several sovereign states’ nullification of every un-Constitutional “law”) DISOBEYing every unlawful edict and by then DEFUNDing it, force our federal government to DEFAULT on its every debt.

    And then, for sure, its credit rating as shot as it already deserves to be, the DC gang will be forced to pay cash for everything.

    DISOBEY!

    DEFUND!

    DEFAULT!

  2. ForFreedom says:

    In response to Brian Richard Allen, perhaps the members of the next House will pass a budget without funds for many of the unconstitutional departments/agencies of the federal government. At least I hope so.

  3. Mary E says:

    My Dad taught me always to pay my bills. It is a matter of honesty. He also taught me not to spend money I don’t have. ie: no credit cards, no bounced checks, stick to the budget. Known the difference between needs and wants and be wise. Result? Peace of mind. Do you think our government can figure that out? Maybe it is too late ):

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