Government Doesn’t Have to Borrow to Spend


The New York Times has the 2013 article Government Doesn’t Have to Borrow to Spend by James K. Galbraith, a professor of government and business relations at the Lyndon B. Johnson School of Public Affairs at the University of Texas, is the author, most recently, of “Inequality and Instability” and the president of the Association for Evolutionary Economics.

The debt ceiling was enacted in 1917 for one purpose: to fool the rubes back home.

I don’t know why this 2013 story turned up now on my Facebook feed, but it is as true now as it was in 2013. I guess it is just proof that the scam has gone on well after its exposure in 2013. Not that 2013 was the first time this scam was exposed. When Nixon took us off the gold standard in 1971, people should have awakened to the changing facts of life.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.