strangle hold on public debt by setting interest rates on bonds, so what the public can "afford" is a factor of how well those markets in private financial instruments, such as derivatives, goes and all of that added up to the bailouts we have seen.
If we/the public set the interest rates on our own bonds, especially since the public is the single biggest financier of our own debt, there would be more of a direct relationship between spending & financing, so we could do more of what we want, less dependent upon what happens in those boardrooms.
One of the other creepy things about all of this is the fact that 1. legislation to implement various policies is passed; 2. then they vote on it again in appropriations (giving, as you probably already know, any single representative or senator opportunities to be both for and against the same policy) and then, 3. beginning last year, they started voting on the deficit cap, in effect, whether they are going to fund what they ALREADY decided they were going to spend. Talk about opportunities for corporate lobbyists to profit from public debt, Wow! just fucking Wow.
= new reply since forum marked as read
