Saturday, December 4, 2010

It's all very confusing, so think what I tellya

Here is a very long page from somebody who wants to get you all riled up about government debt.

Here is a quote from down near the bottom of that page:

It's true that we have to pay interest on the National Debt. But some citizens own a portion of the national debt, in the form of savings bonds and other government bonds. So some of the interest payment goes to them. You may be one of them. You'd want to keep your interest income coming. But the interest payment is being paid by taxpayers, and you may be one of them's a tangled web.

Here's what I think: This guy says when somebody owes a debt, somebody gets paid for the lending of it. He points out that sometimes those somebodies are the same people. Then he says, it's a tangled web.

But if this guy thinks that is complicated, maybe he should get out of the business of trying to think about the economy.

Guess I'm grumpy today.

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