[Winona Online Democracy]
Cherisa,
I don't want to incite the black helicopter crowd, but much of the national
debt is owed directly or indirectly to the Federal Reserve Board (whoever
they are). That's why they are so concerned about interest rates. Look at
the top of any paper money you have and you'll notice that it is not a US
Government note, it's a Federal Reserve Note. Jack Kennedy wanted the US
Treasury Department to print it's own money, and we know what happened to
him (that's a wink and a nod to the black helicopter folks). Really,
Chairman Greenspan and the Board of governors make billions of dollars each
year off of the interest due on the national debt.
Also, the first , best step toward reducing the national debt is to operate
under a balanced budget. I find this works at home too. Under the control
of the Republican controlled congress we finally had a balanced budget (and
even the surplus you heard so much about during the election campaign).
Yes, the president submits a budget to congress, but until we were able to
benefit from the restraint of the conservative (fiscally conservative)
congress, we hadn't had a surplus in decades. Congress approves all
appropriations (spending) bills.
I agree with those who say there is such a thing as good debt. If the
federal government builds a series of dams to control commerce on the
Mississippi, all the tax payers on the river benefit. If, however, the
government gives a man a fish, rather than teaching him to catch his own
fish, we all suffer.
gene thiele
winona
----- Original Message -----
From: "Cherisa Templeton" <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Friday, December 22, 2000 6:52 PM
Subject: Re: [Winona] National Debt
> [Winona Online Democracy]
>
>
> Thanks to all who responded about this topic, however, I am still confused
> over a few points. I will try to be more specific:
>
> 1) What is our national debt? To whom do we owe these trillions of
dollars?
>
> I know some of it is owed to the SSTF- I gather we have borrowed
money
> from this fund over the past many years to pay for various projects, wars,
> etc...
>
> 2)Why is paying it back not a priority for the Republican party? It can't
> all be good debt can it?
>
> I heard what Paul said that the Democrats are only pretending to want
> to pay it off by using the surplus money, which will then be stealthily
> diverted to some other use- or the debt will be paid off, but no tax cut
> will then be given and we will use that tax money for something else. But
> do the Republicans have any plan or idea on how to bring down that
national
> debt without using surplus money? If not, why isn't it a priority?
>
> In the meantime, Happy Holidays everyone!
>
> Cherisa Templeton
>
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