Re: The Problem With the Country
From: Charlie Thorne (thorne.2_at_osu.edu)
Date: 10/26/04
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Date: Tue, 26 Oct 2004 21:13:45 GMT
On Tue, 26 Oct 2004 17:42:45 GMT, William F Hummel
<wfhummel@comcast.net> wrote:
>On Tue, 26 Oct 2004 13:16:54 -0400, "anon" <me@privacy.net> wrote:
>
>>
>>"William F Hummel" <wfhummel@comcast.net> wrote in message
>>news:brvsn0db5tjv8lp6r2bo5tvoej3hknq8jd@4ax.com...
>>>
>>> The government can spend as much money as it chooses. It recaptures
>>> all of its spending through taxes and the sale of securities if
>>> necessary. The notion that government spending is constrained by the
>>> available money supply is a fiction.
>>>
>>constraints on real spending are surely not a fiction?
>>
>The only constraint on real spending would be where the government
>preempts the use of the productive capacity of the economy. That
>applied to a limited set of goods and services during World War II.
>The government ran up the debt far higher in proportion to the GDP
>than ever before or since. Yet the economy flourished as never before
>or since for 20 years following the end of the war.
You need to define productive capacity more liberally. When the
government spends money (as the republicans have been since 1980) its
removed workers from the workforce and increased inflation due to the
increased money in circulation. As inflation increases, the value of
labor and goods decreases. At some point, the government needs to
revalue the currency as Germany did in the 20's and all the middle
income people lost their life savings but the industrialists
speculated on the money and increased their wealth proportionately. In
reaction to the loss of wealth, the working class supported the Social
Democrats (i.e. Nazis) and we get a huge war in Europe.
It's also interesting that only Republicans can spend money they don't
have. If the Democrats do, it's considered Socialism. If Kerry stops
Bush's Oil War and uses the money for health care and education, it's
considered Socialism.
If Bush removes social welfare such as social security, medicare and
education, it's considered cutting the EVIL problem of BIG Government.
But if Bush spends huge dollars on Military--that's protecting the
country.
According to Bush's recent Statement, Kerry's health care program will
incease the deficit by $900 billion. Bush's War, however, will have no
effect, since "Deficit's don't matter".
Charlie
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