RE: 4/17/18 "Congress' and Trump's deficit binge paves way for the next one"
by Washington Post writers Damian Paletta and Erica Werner
Your story about the deficit misleads about National "Debt," conflating it with household debt. It's more like bank debt.
When you have a bank account, it's your asset, but the bank's debt. The common name for bank debt is "depositors' accounts." The common name for National "Debt" is "citizens' dollar assets." Reduce the "debt" and you'll impoverish the population. Historically, this leads to waves of asset forfeitures.
How often do you hear depositors clamoring for their bank to reduce its debt (i.e. their account balances)? The “Fiscally Responsible™” who want to impoverish the population by reducing their savings are not promoting thrift or virtue; they are promoting ignorance in the service to vulture capitalists who will pick up those foreclosed or forfeit assets on the cheap. Please stop this deception.
by Washington Post writers Damian Paletta and Erica Werner
Your story about the deficit misleads about National "Debt," conflating it with household debt. It's more like bank debt.
When you have a bank account, it's your asset, but the bank's debt. The common name for bank debt is "depositors' accounts." The common name for National "Debt" is "citizens' dollar assets." Reduce the "debt" and you'll impoverish the population. Historically, this leads to waves of asset forfeitures.
How often do you hear depositors clamoring for their bank to reduce its debt (i.e. their account balances)? The “Fiscally Responsible™” who want to impoverish the population by reducing their savings are not promoting thrift or virtue; they are promoting ignorance in the service to vulture capitalists who will pick up those foreclosed or forfeit assets on the cheap. Please stop this deception.
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