Full Faith & Credit

mitchs-money-grabWe 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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Monica Smith

Monica Smith writes Hannah's Blog. Born in Germany, she came to the United States as a child, living first in California, then after an interval in Chile, in New York. Married to a retired professor at the University of Florida, where she lived for 17 years, she moved to St. Simons Island, Georgia, in 1993 and now divides her time between Georgia and New Hampshire. (New Hampshire, she says, is always interesting during a presidential election.) She and her husband have three children and five grandchildren. Ms. Smith says she "learned long ago that I am not a good team player when I got hired at the Library of Congress, fresh out of college with a degree in political science and proficiency in four foreign languages, to 'edit' library cards and informed my supervisor that if she was going to insist I punch the clock exactly on time, my productivity was going to fall from being the highest to being the same as everyone else's. The supervisor opted to assign me to another building where there was no time-clock. After I had the first of our three children, I decided a paycheck wasn't worth the hassle."