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ARGeezer:
That would constitute paying off over two thirds of the national debt at present, but is quite acceptable to me as a start

My understanding is that the Afghan/Iraq/Pakistan wars have cost about 3-4 Trillion whereas total US debt is about $14 Trillion so we are talking, at max, of c. 25% of total debt.

A reasonable start IMO.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Fri Jan 11th, 2013 at 11:11:11 AM EST
[ Parent ]
I didn't check the sums in question and probably included a top of the head estimate of the total of the current national debt added as a result of actions under Bush 43, which included debt resulting from authorized spending not covered by the tax cuts for the wealthy and the expenses incurred late in that administration and continuing into Obama's administration necessitated by the response to the GFC/GCF - the economic dump that was the outcome of the fecklessness that came to a head in the late summer of 2008.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jan 11th, 2013 at 12:49:43 PM EST
[ Parent ]
Call it the cost of following behind the elephant and cleaning up after it.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jan 11th, 2013 at 12:50:34 PM EST
[ Parent ]
I'm a bit of a self proclaimed expert on elephant dung having spent a little time tracking elephants in Tanzania/South Africa so I would suggest NOT cleaning it up! The problem with the Bush abuses is that they are now consolidated into one seamless National debt which the Republican are now trying to dump en masse on Obama. The beauty of the Trillion $ coin is that it re-fertilizes the dung heap and gives the Fed the task of recycling it among the "investor class".

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Fri Jan 11th, 2013 at 01:21:17 PM EST
[ Parent ]
To me a deeper beauty is that, by merely getting the topic into general circulation sufficiently that those devoted to the 'money as a physical thing' have to engage in order to defend their beliefs, their minds are subtly poisoned by the very thought they are trying to suppress. If they have to attempt to make such a thing illegal they have already acknowledged its potential reality.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jan 11th, 2013 at 10:28:03 PM EST
[ Parent ]
Do these guys not have credit cards? Have they never seen a $10 bill consisting of a piece of paper  saying/claiming it is worth $10? And what is $10 anyway in itself? Cue angst ridden existentialist inquiry on Fox: Obama has stolen "our" money!

I am reminded of the Pharisees trying to compromise Jesus by asking him whether Jews should pay taxes to Caesar.  Taking a (Roman) Coin from his pocket Jesus asked "Who's head is on it? - you are only paying them with their own money"

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Sat Jan 12th, 2013 at 06:02:52 AM EST
[ Parent ]

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