re: #164 JustABill

My understanding is that the government can print money via the treasury dept, exactly how this is regulated is a bit of a mistery to me. Also, I understand is that the fed can create money to loan to the govt and increase/decrease the money supply in that way.

That all being said, the vast majority of the money the govt spends comes from taxpayers, with borrowing being responsible for most of the rest.

Wealth, which money is used as an exchange medium cannot be created by anything other than an individual being productive.

Government loans are taxes on future productivity.

Combining the deficit and unfunded mandates in social security and medicare the US government has $63 Trillion dollars out standing. Or $220,000 obligation by every man, woman and child in the US. Since the work force is a little less than half the total population. Figure $450,000 for every working individual. If you take an average of around $40,000 every working individual is indebted for 11 years of labor to pay off the money government has created.

Think about that, to balance the government books, everyone currently working would have to work for 11 years and give ALL their income would go to the government.