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Reply #101: Federal money is not magical money. [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
OneTenthofOnePercent Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-16-10 06:17 PM
Response to Reply #95
101. Federal money is not magical money.
When federal money buys it, it just means EVERYONE pays for it.
Sure, you cannot print money out of thin air without consequence.
You either have to borrow it or take an inflationary hit.

That's not even the biggest problem. What about the social consequence of such actions?
I'll be honest... if the government was "giving away" homes to the homeless I would stop my mortgage payment RIGHT NOW.
Why throw away 1/2 of my salary when I can get it for free? I'll bet alot of others follow suit as well.
It'd probably be a few months before I get evicted and then I just have to go sign up for my free house.
Yup, you start giving away homes, and the lower middle class will walk away from thier mortgages in droves.

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