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Full Faith & Credit
The Fiscal Kerfuffle
We are agitating over figments of the imagination.
We already know Obama loves him a kerfuffle. The real issue is how to get Congress to realize that their job is to spend or dispense money. Managing the currency is one of their prime responsibilities. Scrimping and hoarding is not managing. The Congress hoarding dollars is not only unseemly, but detrimental because the federal government is the only source and without money to mediate transactions, we are left with taking things on faith.
That gives a whole ‘nother meaning to “faith-based” government. Imagine if we went down to the grocer’s and said, “have faith brother; I’ll bring you something you want, later.”
Every dollar represents a debt. That’s what dollars are, IOUs. They’re like marriage certificates — providing documentary evidence that I owe you a dollop, if not a lifetime, of care and protection. “I do” = “I owe you.”
Where the cons go wrong is in thinking that what is owed is owned. That I owe you does not mean that you own me. If it did, that we all exist in an ownership society, would be correct. Ownership and obligation are not related.
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