[Vision2020] yay! we passed $18 trillion!

[Paul Rumelhart]

Well, I'm not an economist.  I do think that $18 trillion is perhaps both
feet across the ridiculous line, though.

There are a lot of things about how the system works that I find strange.
For example, I googled how much cash there is in circulation at the
moment.  According to this link (
http://www.federalreserve.gov/faqs/currency_12773.htm), there is roughly
$1.29 trillion in circulation, with $1.25 trillion of that being in the
form of Federal Reserve Notes.  So it's all just smoke and mirrors anyway.

Hopefully our currency will stay strong on the international stage,
otherwise we will probably be having quite a different conversation.

And I know the idea is old-fashioned, but maybe we should be looking closer
at how much bang we are getting for our buck instead of just adding some
more to a fictitious number somewhere and hoping it will all sort itself
out sometime.

Paul

On Tue, Dec 9, 2014 at 10:33 AM, Ron Force <rforce2003 at yahoo.com> wrote:

> And this is a problem...because?
> Debt for a sovereign government that issues its own currency and has the
> power to tax is different from an individual or a government that doesn't
> have its own currency (ie, Greece). Read here:
>
> The Federal Budget is NOT like a Household Budget: Here’s Why | Roosevelt
> Institute
> <http://www.rooseveltinstitute.org/new-roosevelt/federal-budget-not-household-budget-here-s-why>
>
>
>
>
>
>
> The Federal Budget is NOT like a Household Budget: Here’s Why | Roosevelt
> Institute
> <http://www.rooseveltinstitute.org/new-roosevelt/federal-budget-not-household-budget-here-s-why>
> The Federal Budget is NOT like a Household Budget: Here’s Why L. Randall
> Wray takes the fear and loathing out of understanding federal budget
> deficits.
> View on www.rooseveltinstitute.org
> <http://www.rooseveltinstitute.org/new-roosevelt/federal-budget-not-household-budget-here-s-why>
> Preview by Yahoo
>
>   It's the same thing my Econ 101 professor taught back in the last
> century.
>
> Ron Force
> Moscow Idaho USA
>
>
>   On Monday, December 8, 2014 3:29 PM, Paul Rumelhart <
> paul.rumelhart at gmail.com> wrote:
>
>
> I hadn't looked at http://usdebtclock.org for a while, and just noticed
> that we passed the $18 trillion dollar mark.  I'm not sure exactly when we
> crossed it.
>
> Perhaps we should be doing something about this.
>
> Paul
>
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