That shows how much the man knows about the Federal Reserve scam! You cannot pay off the debt with borrowed money. If the debt was paid off, all the money would have disappeared! The US borrows money into existance. The Federal Debt is a scam! There is no Debt. It's a phony debt!

-- IRS sucks (IRSsucks@aol.com), February 03, 2000

Answers

You are an indentured idiot! Which means that your brain is held in trust while you spout gibberish. Idiot. Have you ever added two plus two? Ever pay a mortgage? LOSER! Honest to god, our schools must be shit if they turn out dipwads like you who cannot add.

-- Sorry you moron (I should'nt @be.here), February 03, 2000.

IRS, you are RIGHT.

Unfortunately almost nobody understands why, so they wont belive you. It took me at least as long as I researched y2k to convince myself of that.

The debt may be "phoney" but right now it has real purchasing power. THAT may change soon.

Theoretically you are wrong, it is BANKS that LEND money into existence, the US only borrows a PORTION of this money. (though they're on the hook to pay it ALL back anyways) While the total debt could be paid back, it would mean that some other sucker would be stuck with debt.

What SHOULD be said is that THERE is NO SURPLUS. The evidence of this is that the total federal debt is still increasing.

http://www.Goldensextan

-- hunchback (quasimodo@beltwor.com), February 03, 2000.

Lets say that I make pencils. You need a pencil so you come to me and I say I will loan you one but you must return it with interest when you are done with it and I will only take another pencil as interest but I am the only one who can make pencils. Replace the word pencil with the word dollar (or FRN) and you will understand the problem. The only way out is to make your own pencils.

Another interesting side effect of the credit drivin world is that you now have to pay banks to hold on to your frns for you. They don't need your deposits to be solvent anymore so its a hassel for them to hold them in smaller highly variable amounts like most checking accounts are so you get a fee. It gets worse every year.

Why do all the work and pay all the help to service customers accounts when you can borrow what you need from the fed to loan out. Then you only have the one account to keep track of.

-- Just passin through (nobody@nowhere.com), February 03, 2000.

Yes it's a scam, but its OUR scam. We don not have the option of changing the rules at this point without causing a calamity.

The only way to reduce the debt is to reduce spending and boost GNP. Good luck doing either of those.

Note that the $5,000,000,000,000.00+ national debt is just part of the problem. Don't forget the other $11 trillion of consumer, corporate, and other state and local government debt.

In a nutshell, Paul Milne was probably right.

-- (@ .), February 03, 2000.