June 28, 2010.  The danger is from the tea-partiers and conservative democrats. (And liberals who think it's OK to waste money are no help either—and I know quite a few.) Of course, they're all well meaning. But the road to hell is still paved with good intentions. Close to 10 million Americans are out of work, and these tea-party "patriots" want to cut government jobs. [By the way, does anyone know what government tea-partiers like better than ours? And, if ours is best, why so angry?] ZFacts was warning about the deficit back when the economy was booming. That was the time to cut, not now (read about T-P policies in Ireland). Don't contribute to America's third depression. Blaming and moralizing are no help when the house is on fire ... more

May 24, 2010.  Money flows in circles: you get paid you spend it, and the store pays someone else, who spends at another store. But what if everyone spent 90% and saved 10% in the bank? What would that do to jobs ... more >>

They like to scare you with how much we owe, but what about the flip side? How much are we owed? When you owe money you owe it to someone, and about $4 trillion is owed to foreign governments etc., but we Americans are owed about $9 trillion. Some will say "they'll never pay us." But in that case, it's us not paying us, so if we don't get paid, we don't pay.

Below you can see that $4.5 trillion is owed to gov. trust funds -- a lot of that is owed to those who will collect social security. Almost $1 trillion supports the U.S. dollar and will never need to be paid back, unless we stop using money.

Also remember that in the financial crisis the government bought about $1 trillion in mortgages and other IOUs, and although some will go bad, we now own a lot of assets that will later be sold to pay off the debt.

Most Republicans would rather not see their country crushed by a depression just to prove an ideological point, even if it was correct. But extreme conservatives fought recovery in the last depression, and Roosevelt did not spend enough from 1933-41 to get us out of it. Only World War II provided the excuse for the enormous deficits that finally jolted the economy out of depression and into overdrive. (#1 villain)