re: #208 Sharmuta

I can see the argument for it [Fed audit] being a “distraction”, but the thing about scrutinizing fiscal habits and spending mechanisms is that people in general have very little consciousness about what money is, what makes it sound, what destroys it.

There’s this perception out there that, in effect, Cheney and Reagan were right: that deficits don’t matter, and the limit on the national credit card is no problem - just print more, spend more.

When people say “we need to stop increasing the deficit”, others ask: “or else what? That’s where an understanding of the Fed and its relationship to the Treasury comes in.