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Still buying imported cars.
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<blockquote data-quote="OldWiseGuy" data-source="post: 59774665" data-attributes="member: 139156"><p>I still think the budget deficit is directly related to the trade deficit. Tax revenues are based on domestic economic activity. When that activity is exported tax revenues are affected and the gov't has to borrow. I will go to my grave believing that the only way to solve the problem is to inject debt-free money into the economy by paying for gov't contracts directly from the Treasury. This creates more equity (thus less debt) in the economy, much like adding 'clean' grain to grain that tests too high in pollutants in order to 'clean' it up enough to legally sell. </p><p> </p><p>Our economy is infected with unnecessary debt that is polluting it. The great irony is that those of us who want the Fed Reserve abolished are told that if the gov't controlled the monetary system they would run the printing presses 24/7 and create runaway inflation. But is that worse than what is happening because of 'borrowing' the same amount of money and placing our grandkids in hopeless debt? Excess money can be removed from the economy through the budget process whereas debt, once incurred, can never be repaid.</p></blockquote><p></p>
[QUOTE="OldWiseGuy, post: 59774665, member: 139156"] I still think the budget deficit is directly related to the trade deficit. Tax revenues are based on domestic economic activity. When that activity is exported tax revenues are affected and the gov't has to borrow. I will go to my grave believing that the only way to solve the problem is to inject debt-free money into the economy by paying for gov't contracts directly from the Treasury. This creates more equity (thus less debt) in the economy, much like adding 'clean' grain to grain that tests too high in pollutants in order to 'clean' it up enough to legally sell. Our economy is infected with unnecessary debt that is polluting it. The great irony is that those of us who want the Fed Reserve abolished are told that if the gov't controlled the monetary system they would run the printing presses 24/7 and create runaway inflation. But is that worse than what is happening because of 'borrowing' the same amount of money and placing our grandkids in hopeless debt? Excess money can be removed from the economy through the budget process whereas debt, once incurred, can never be repaid. [/QUOTE]
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