A question often asked and seldom if ever answered when it comes to government spending.
They may however have revealed how they plan to finance this next shutdown, and yes another is coming. Hide and Watch.
Below are two links for your reading enjoyment and perhaps provide a little enlightenment. I encourage you to read these two articles.
What I write about them is my interpretation of the contents. You may come to a different conclusion than I do, and that is perfectly fine.
I will focus on just one paragraph in the first linked article, that will be the second paragraph. The paragraph will be broken into two parts. The “plan” will be in italics my interpretation will be in standard block letters.
When you look at the personal savings rate in this country, it’s now gone from about 8 percent to over 22 percent. We have a big pool of money out there that we could borrow.
Good grief. If my interpretation is correct the “plan” is to make the citizens, you and me, pay for this shutdown. Not with the tax dollars taken from us but with the savings we have accumulated. You will notice the use of the words personal savings indicates that this is only about the citizens, you and me.
And oh, are they drooling. You can do a quick search and find the estimated amount in personal savings held in America. You can almost see the drool coming down his chin as he says “We have a big pool of money out there we could borrow”. The word borrow was used. One can only borrow something from another if they are willing to lend it. There is no intention to borrow the money, there is only the intention for them to take it.
The historic low interest rates by the federal government, we could pay for a package right now to cover all of the wages, lost wages for individual workers, for our losses to small companies to medium sized companies, for city, states, county governments. We could do all of that.
The above part of this article is absolutely fascinating and covers quite a lot. First. If they do only intend to borrow the money, they the borrower get to determine the interest rate they will pay. He says the interest rates are at a historic low. So I have to ask since when did the borrower set the interest rate and not the lender? Second, and I find this to be a hoot. Pay all of the wages, lost wages for individual workers. Under this plan, it seems to me that, you will get a paycheck just as you had been receiving but you will be being paid with money they had “borrowed” from you. What you get for a paycheck was already your money. Is your normal paycheck taxed? The money being paid to you by you will be taxed by the government just the same as it always was. Third, and you will have to stick with me on this one. I have to wonder just what is meant when he uses the word “our” when he says “our losses to small companies to medium sized companies”. Would “our” losses have anything to do with the government, the federal government, not getting their taxes. Oh, wait a minute that question is answered in the next sentence in the article. A prolonged shutdown would have an effect on cash flowing into the city, county and state governments. They too will get some of that “borrowed” money. You can sure bet that you and me are not part of that “our” in our losses.
Now to the second linked article. And again the “plan” will be in italics and my part will be block letters. I will focus on the last three sentences.
We need FDR moments right now. We need fireside chats. We need somebody to tell America, “this is what in the hell is going to happen.”
If you will do the research on FDR, the New Deal and what was done to those holding “significant” amounts of gold coinage you will find that the last thing the American citizens need is another FDR moment.
If your savings are indeed “borrowed” you will never be repaid. It will just be added to the national debt, and we will be told to the penny how much of that debt we the citizens are responsible for.
After the saving are borrowed and spent what will they come for next? You know, for the public good and just to get us through this crisis.
Those with nothing to lose will cheer for this plan. The “polling numbers” will show how popular this “plan” is, the numbers will show that. The rest of us will end up in the “poor house” right along with them. Misery does love company.
If I am wrong in my interpretation it will be like a friend says of me when he says, “You tend to overthink things.”
If I am right in my interpretation, God help us.
So, I will close with this. Who is John Galt?
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