Government’s money management dangerous | TheUnion.com
YOUR AD HERE »

Government’s money management dangerous

The idea that the federal government’s money management is “different” than that of a family or business is downright dangerous to us all. It will lead to fiscal disaster on a scale much greater than bleak Detroit’s.

The essentials are the same. Money spent must be paid back. One so-called “progressive” idea is that money problems can be indefinitely pushed into the future because governments can last forever. If so, name one. Another idea is that governments can print more money to sustain spending. This just devalues the money in circulation. It doesn’t create new wealth. The third idea is to keep selling more U.S. bonds.

The promise to redeem a bond relies on trust. Trust in U.S. bonds has been built upon the work, productivity and profitability of U.S. enterprises. Yes, for awhile, we can push our debt onto nameless generations in the future, but that amounts to forcing future taxpayers, without their consent, to pay for our spending. Is that what you consider smart? I consider it fraud, a huge Ponzi scheme and shameless irresponsibility.



A trustworthy man lives within his means and pays his debts. A trustworthy government spends within its means and pays its own debts.

Marilyn Chrisman




Nevada City


Support Local Journalism


Support Local Journalism

Readers around Grass Valley and Nevada County make The Union’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.

 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User


Letters

Jinx Larive: Problems at the post office

|

The U.S. Postal Service needs your attention. Example: We have an ongoing problem at our Post Office (Nevada City). The office has no manager, our post office is now “assigned” to the San Francisco district…



See more