Comment Re: Ha Ha, Now the lie is openly admitted (Score 1) 401
Claims that it will reduce the deficit are somewhat dubious (e.g,, relying on the assumption that increased IRS enforcement will rake in the dough without considering how people will change their investment/tax shelter strategies to avoid this and the typical govt tricks of "changing" unrealistic projections of future spending to invent a savings).
Don't forget that the government has to pay off the bonds, with interest, when the bearer redeems them. Since the money is already spent, either we will a) default on the obligation and tank our credit rating, b) sell more bonds (with interest) thereby exacerbating the problem, or c) the Fed will have to print new money.
Don't forget that the government has to pay off the bonds, with interest, when the bearer redeems them. Since the money is already spent, either we will a) default on the obligation and tank our credit rating, b) sell more bonds (with interest) thereby exacerbating the problem, or c) the Fed will have to print new money.