Reply #137: Just because one has a debt the money isn't there?

[jtuck004]

So if one has a mortgage they have to move because "the money isn't there", or our national debt means we
have to turn out the lights because the money isn't there"?

It's in T-bills, notes backed by the full faith and credit of the United States. And we are the sole manufacturer of
the dollar. So of course it's there. We cannot go bankrupt.

I will grant you that if we keep going the way we are going we would have to keep adding more zeroes to the reserve
account, and eventually people would lose faith in the dollar, but as long as we have electricity we can create
more zeroes. Read the publicly available reports from the Federal Reserve, it's quite clear.

But austerity is not the only path, it is just the only path that preserves wealth for the very, very rich, and keeps
most of the rest of the country in debt to them. That is far from the only way we can go. When companies like Goldman
Sachs created their deceptive shell corporations which began to move much of the wealth of this country to a small group
in the 20's (among other reasons), they helped cause the Great Depression. In response we created a jobs program like no
other, and drew up some laws that began to reign in the worst excesses of the banks, as well as insuring that unions could
survive in a capitalist society. Over the years we grew our way our of the Depression (including a war) and had a long
period of great prosperity. When we got rid of those regulations and over the years we lost that ability, lost the core
of our industrial growth, and lost our security.

There are a few people trying to use their money and power to convince everyone that the only way to proceed is to
protect their class. They are wrong.