A Jeffersonian Political Economy . . .

[redcliffsw]

Lincoln's war created a tremendous debt and the U.S. government continues to borrow money. The government has a great income. Why does it need to borrow money?   Because rich people like government bonds. It is risk free, tax free and draws good interest   The government used to finance itself that way when it generally balanced the budget.  Now it finances its tremendous deficit spending the same way.   The U.S. Congress has long been spending beyond its means year by year, and not because of an emergency, but to buy elections.   There is now a debt so tremendous that it can never be paid. To pay it would take all the earnings of you, your children, and your grandchildren to infinity.   However, the holders of government bonds do not mind. They are receiving substantial, risk free, tax free interest. These bondholders now include foreign governments which the Founding Fathers would consider treasonable.  Merely paying the interest on the debt is now the major part of the budget.
-Dr. Clyde Wilson

Read on:
http://www.abbevilleinstitute.org/clyde-wilson-library/a-jeffersonian-political-economy/

[Diane Amberg]

"Good" interest?

[redcliffsw]

Thank you for your admission.  You're the true socialist that you're known to be. 

That's one good reason that you yankees promote government support to yourselves and  your "concern" for the wealthy and the poor so much.

Tell me again that the Republican party is not a socialist organization and I'll say that it is.

[Diane Amberg]

I hardly call less than 1% interest, or whatever it is today, a "good" interest return. How does that make me a socialist? Many retirees, when they spent years saving and planning for their retirement, counted on a decent interest return on any investments to help them pay bills.  That loss stings.
Saving and investing is socialist? When we get older should we just float off on an iceberg and "reduce the excess population?"

[redcliffsw]

So why haven't read the article?  If you have read it, obviously you don't understand or you could care less as long as you can work the socialist system that you think is OK for you to profit form the socialist financing. 

How are you going to make more than 1% ?  Don't you think the government Ponzi scheming has about finished its course?  Or is there something the Fed's can do to keep it going a little longer? 

Read the article - give it try.  (Bad advice to a yankee).

[Diane Amberg]

I did read it. But I live now, not in "olden days.'' It was two generations before me that allowed many of the things we of today are having to cope with, plus we are not alone on this planet. We have other countries with their strenghths and weaknesses and political policies to deal with.  The people with the huge money have always been around and always will be.It is a closed shop and, with a few exceptions, they protect each other. Bill Gates being one very good example of the generous kind.
I have plenty.I won't outlive my money, but it took years of planning and hard work to get where I am now.  I have enough to share and if doing so makes me a nasty socialist, so be it. I'm not selfish and self centered like some on here who are just out for themselves, no matter how they talk.
I am totally underwhelmed by some of the career bloggers who make a living writing to their audience. One never knows how they really think. Only in this country could they do as they do and get away with it. But I'm the bad guy? HA!