Posted on 02/20/2022 10:11:44 AM PST by John Semmens
While admitting that "7.5% inflation is concerning," Treasury Secretary Janet Yellen insisted that "it's not all bad. Things would be worse without it."
"I can understand how the average consumer might be worried that rising prices will negatively impact their standard of living, but the erosion of the purchasing power of the US dollar also has its benefits. To most ordinary people the government seems an all-powerful master of its situation. What they don't realize is that the government is the biggest debtor in the nation."
"The declining purchasing power of dollars means that we can pay back our debt with cheaper money," Yellen explained. "In just the last year alone the dollar we borrowed can now be repaid at 93 cents. This shifts more of the burden of supporting the government to persons wealthy and foolish enough to buy our bonds, notes, and bills. Meanwhile, the subsidy checks we have mailed out to select recipients will help them pay higher prices and bolster their approval of the Biden Administration. I'd call this a 'win-win' situation compared to the alternative of honestly honoring our debts and allowing people to keep a larger share of the money they earn. The genius of this strategy will be confirmed when Democrats win the November elections."
If you missed any of the other Semi-News/Semi-Satire posts you can find them at...
https://www.gopbriefingroom.com/index.php/topic,462466.0.html
Is this like when everybody lost their job over COVID hysteria, but it was good because they then got to do what they really wanted to do with their life (instead of eating)?
CBO predicted receipts in 2022 would amount to 18.1 percent of GDP, the most in 20 years. Now it seems like the agency will have to revise that too upwards.
Not everyone dislikes inflation.
“”The declining purchasing power of dollars means that we can pay back our debt with cheaper money,” Yellen explained.”
Delusional. Every day we are adding to the pile of debt. There is no paying down the debt.
It prepares those paying taxes to get ready to pay more taxes.
I prefer it to the alternative.
“”The declining purchasing power of dollars means that we can pay back our debt with cheaper money,” Yellen explained.”
Well we do, the problem is we add multiple new debts for each one we reduce.
Fixed: The declining purchasing power of dollars means current debt can be serviced with cheaper dollars.
No, you foppish fake. What it means is that all the rich donors to your masters’ political campaigns get to pay off THEIR debt — while the rest of us die.
As one of my favorite Texas assembly men said: “Eat death scum and die!”
Not for her and her elites friends it isn’t.
But it is for everyone else.
Not only do we not pay down the debt nor ever will ... rising inflation means rising interest rates. Rising interest rates means the percentage of the budget just to pay the interest payments on the debt will substantially increase.
But losing your job gives you more “Family Time”.
Rising interest rates inhibit borrowing, correct. That is a necessary and regular function of our system and has been for a long time.
The main problem isn’t borrowing per se, it’s the balance between private and govt borrowing, which has gone completely out of balance since the growth of the Left in government since 1960. Govt uses money wastefully compared to the private sector, and the states and federal govt are taking over more functions all the time.
I hate reading crap like this from administration officials. Inflation is definitely bad all around and she knows it.
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