"In 1980 the national debt was only 800 billion but interest rates were at 20%. Now.... the debt is nearly 16 trillion -20 times what it was in 1980! And rates? Well, they're at zero." -Mike Norman, John Thomas Financial Chief Economist
Clearly, deficits don't matter when you're the score keeper. Modern money is tax driven. Without taxation modern money has no value. The U.S. dollar is modern money and it comes from "thin air". So what happens to modern money when we pay Federal taxes? It goes back where it came from - literally! Dollars are spent into existence by decree of Congress. The Federal government's liability is our asset and vice versa. Remember the Clinton surplus?
Every minute of every day the arbitrary number on the U.S. Debt clock is equal to dollars saved here and around the world, to the penny. So, what's so unsustainable about consumers wanting to save dollars? Get a grip, people. Stop listening to FOX, and CNBC and CNN and ABC and other mainstream sources because it makes you dumb! Willful ignorance on this topic is an act of treason.
