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To: Harry Landsiedel who wrote (91227)10/29/1999 1:21:00 AM
From: The Duke of URL©  Read Replies (1) of 186894
 
"Finally, I'm not an economist, but if Congress retires some of the debt doesn't that "take" some money out of the system?"

No. It has the opposite effect. It puts cash in the private sector, and if the private sector can use it less wastefully that the government it increases overall productivity and reduces inflation.

HOWEVER, no politician worth his campaign slush fund or his congressional perks will tell you that. That would mean that the money would no longer pass through their fingers.

If the government reduces the debt, they don't have to tax you as much to pay the interest. If they don't have to borrow new money to roll over the old money, that means there is less of a demand for loans, that means lower interest rates and more money available to the private sector.

Simple, huh? But its better to make some convoluted obfuscated Samulsonian argument rather than actually confront the issues.

Don't ya just love the internet?

Alan Dukespan.
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