I was appalled to read Kelton's article drawing a great dichotomy between the federal deficit and our national economy.
She dismisses any concerns of debt and its consequences by saying the government is not like a household, a private business, a municipality or a country in the Euro zone.Why? Because, she argues, "it can never run out of its own money" because it is the issuer.Does the history of Greece, Rome and Germany teach us anything? Didn't they issue their own money? Do the disastrous economies in Portugal, Italy, Greece and Spain serve as any examples?Because the government is able to raise taxes, sell bonds and print money, it can create a greater fall. True, the government is the issuer, but we the people are the payers.No one or no government can continue to spend more than they bring in without eventually paying the piper. History and common sense tell us that. Only nonsense says otherwise.-- Larry King, Fort WorthHave more to add? News tip? Tell us
