Those idiots that run our country have no clue about our debt money system. Every dollar in circulation has been borrowed into existance.

The US Treasury prints our money and then gives it to the Federal Reserve Bank for just the printing cost. Then as our government needs the money, we borrow it at full interest.

This is the biggest fraud in US history, and nobody has a clue or gives a damn. The Federal debt is a phony debt.

Now go read what those idiots are planning to do. *************************************************

House Passes Republican Plan To Pay Off The National Debt

September 18, 2000

The House of Representative passed legislation today to dedicate 90 percent of next year's surplus to paying off $240 billion of the national debt.

“Paying off the national debt is the right thing to do to protect our children from a crippling burden in the future, and locking away money in the Social Security and Medicare Lockbox is the right thing to do for our parents,” Rep. J.C. Watts, Jr. said. “This bill delivers on the promises made to our parents, and it extends the promise of a strong economy to our children.”

The bill changes budget law so that Congress can proactively pay off debt (current law permits debt relief to occur if and only if there are surplus funds leftover from that year's discretionary spending).

“This bill is the latest highlight of a Republican record on debt relief that is unmatched in history. Since Republicans gained control of Congress, we have paid down $351 billion in debt,” Watts said. “Now, we propose to continue this effort by paying down an additional $240 billion of debt in the next fiscal year. Combined, that would mean that by the end of the 2001 fiscal year, we would have paid down more than a half a trillion dollars of the debt.”

This bill also contains Rep. Wally Herger's (R-CA) Social Security and Medicare lockbox legislation, which has been stalled by Democrats in the Senate for most of 2000.

Building on last year, when Congress protected 100% of the Social Security surplus, Congress will continue to balance its books without using the Social Security and Medicare surpluses. These surpluses will be reserved exclusively for debt reduction until legislation to reform Social Security and Medicare is passed. This bill also dedicates additional non-Social Security and non-Medicare surpluses in FY 2001 to debt relief. Overall, 90% of the total surplus would be used to reduce the debt in FY 2001.

-- Anonymous, December 06, 2000