This experiment of out sourcing our food preparation to corporations has failed us. It’s left us really unhealthy […] and really unsatisfied.
— Michael Pollan, from an interview on ABC’s Nightline 5/9/2008
I’m not Libertarian, I just ask questions…
$451,154,049,950.63 = interest paid in 2008 (1)
$125,635,000,000.00 = education + transportation (2)
I mean it’s not like I want to abolish the state. I’m all for the government filling pot holes and providing a free education to everyone. The problem is they spend more money just paying the INTEREST on the federal debt then both of those things combined.
I’m not Libertarian, Democrat, or Republican. Labels creep me out too. But after the financial crisis it should be clear that we need to start asking more question and have a better understanding of our financial system, because as we now painfully know, it effects every single one of us.
Why does the government pay interest? Where does the money come from that they are borrowing? Doesn’t the government create money? (a hint: the answer begins with the letter N and ends with O)(3) But isn’t it the governments job to create money? Call him what you will but Ron Paul is the only one I’ve heard asking these kinds of questions.(4) Maybe Andrew Jackson had it right when he fought against the central banks. (5)
Footnotes:
1)http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm
2)http://www.gpoaccess.gov/usbudget/fy08/hist.html
Table 4.1 — Outlays by Agency: 1962–2012
3)http://en.wikipedia.org/wiki/Money_creation
4)http://www.ronpaul.com/on-the-issues/fiat-money-inflation-federal-reserve/
5)http://en.wikipedia.org/wiki/Andrew_Jackson#Opposition_to_the_National_Bank