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U.S. Debt Ceiling
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<blockquote data-quote="curiousbrain" data-source="post: 796720" data-attributes="member: 31608"><p>There was a lesser known Senate candidate in Connecticut, Warren Mosler, that had some interesting things to say about the United States and its debt problems - in a nutshell, he made the argument that any concerns over federal debt are essentially meaningless because they create the money (via the Federal Reserve) and regulate the entire economy via taxes - he argues the primary purpose of taxation is not to generate revenue, but rather to regulate aggregate demand throughout the economy.</p><p></p><p>Not to say I agree with it, but it seemed relevant to the discussion. His page where he explains his views better then I can do them justice is <a href="http://moslereconomics.com/" target="_blank">here</a>, although be aware that there is some self-promotion scattered throughout.</p></blockquote><p></p>
[QUOTE="curiousbrain, post: 796720, member: 31608"] There was a lesser known Senate candidate in Connecticut, Warren Mosler, that had some interesting things to say about the United States and its debt problems - in a nutshell, he made the argument that any concerns over federal debt are essentially meaningless because they create the money (via the Federal Reserve) and regulate the entire economy via taxes - he argues the primary purpose of taxation is not to generate revenue, but rather to regulate aggregate demand throughout the economy. Not to say I agree with it, but it seemed relevant to the discussion. His page where he explains his views better then I can do them justice is [URL="http://moslereconomics.com/"]here[/URL], although be aware that there is some self-promotion scattered throughout. [/QUOTE]
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