Wednesday, June 01, 2011

Note to Congress: Stop Screwing Around and Raise the Debt Ceiling


This whole debate is polluted by bad analogies that cloud comprehens­ion of the issue.



First, the United States Government isn't a business, nor was it designed to be a business. Business is responsibl­e for making profits for investors, while government is responsibl­e for providing services to citizens. Two different animals entirely.



Second, the US Budget has nothing to do with a family sitting around the kitchen table, because the family is limited by income to finance their households­, they don't have a printing press in the basement, they can't sell bonds to their neighbors. In fact, the only reason the family has money to allocate to their expenses is because the US Government states their currency has value in the first place. No US Government­, no US Dollar.



So the United States is neither a business, nor a family sitting around the kitchen table .. those are misnomers, and these misnomers are the foundation for the entire "can't raise the debt ceiling" debate.



What the Right is trying to do, is threaten default in order to eliminate programs associated with the New Deal and the Great Society, simply because they empower average Americans. Social Security is a safe haven for the poor from the rich, so is Medicare. That is why the Right, the handmaiden­s of the Rich, want to destroy them with misnomers.
Read the Article at HuffingtonPost

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