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E ND | Well, we will have to agree to disagree, we cant get on the same page if we are not even in the same book. It is debt, it is accounted for as debt, because it is money owed to someone, and the lender (buyer of the treasury) accounts for it as an asset after purchasing it for cash. by the way, since I worked on the inside and know how this works, and I know some senators, yah. You stick with the person on the senate budget committee, and I will run my own financial situation before I listen to them. The circle of money you may be referring to is that when a bond comes due, since the govt needs money to pay it, it sells another one (borrows). When there is a budget surplus, as occurred in the 90's, there actually was cash and some debt was able to be retired. Cash out, debt down. Sorry, governments do borrow. We can get together over a beer sometime. | |
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Growth of money supply vs population size
