NP - OWS is Winning

[David Morris]

On Tue, Nov 29, 2011 at 5:10 PM, alice wellintown
<alicewellintown at gmail.com> wrote:
>>
>  The first is when the government has a surplus. We had one, but it's gone and we all know who to blame for that. Us, we spent it.

No.  Bush spent it, on purpose, so that the government would be
dismantled as much as possible.

>The second, and this is our scenario, is when the government has a deficit. The money isn't there. Where should the government get the money? Tax the rich 1%  OK, tax them at 98% and you have not even dented the deficit and you still don't have the money to send out those Zoyd checks. Just make or print the money. Yes, that is easy enough to do. But that won't make those checks do what you want them to do: bail out the people's debts or even get a big fat check in their hands so they can go out and spend it or pay debts or whatver. Do you know why? Well, because all that printed money is going to devalue the value of all those Zoyd checks.

As long as inflation is below 3% or so, there is no danger of
devaluation.  And when devuation happens, it makes it that much easier
to pay back the loan.

> So it's not possible to bail out people. You can bail out banks but not people.

Bullshit.  FDR did a fine job of it.  But the Fed can't do it alone.
Legislation for directed spending is needed.