Mandeville, LA ‚Äď Exclusive Transcript ‚Äď Folks, if you‚Äôre wondering what he‚Äôs talking about, here‚Äôs what happens. The borrowing authority is granted by lifting the so-called debt ceiling. Where does the money come from? Do you just print it off? That‚Äôs one way that you could do it. What generally happens is the Treasury Department tells all their buddies on Wall Street: We‚Äôre going to issue $110 billion in Treasury notes. Check out today‚Äôs transcript for t‚Ä¶.Continue
Mandeville, LA ‚Äď Exclusive Transcript ‚Äď Anthony Sanders, our friend the economist at George Mason‚Äôs Mercatus Center has been blogging about this. I asked him for some charts yesterday and he put charts together. You can find them in today‚Äôs Pile of Prep under the headline ‚ÄúConfounded Interest,‚ÄĚ what Sanders says about the shutdown. Check out today‚Äôs transcript for the rest‚Ä¶‚Ä¶.Continue
Mandeville, LA ‚Äď Exclusive Transcript ‚Äď To say financial ruin and financial decline is in our future if we don‚Äôt borrow more money is to equate our financial enterprises with debt and with government servitude. ¬†God calls us to Give The Shirts Off Our Backs to the poor. Is that worthy of a manly sentiment from free people or is that a bunch of people who probably lost their way and have lost most connection that they may have had to how life actually is supposed to work‚Ä¶.Continue
Mandeville, LA ‚Äď Exclusive Transcript ‚Äď Let us go to the Dude Maker Hotline and say hello to one of the triad of candidates for the United States Senate for the 2014 elections that I personally know. This is Dwayne Stovall, TexansForStovall.com. Check out today‚Äôs transcript for the rest‚Ä¶‚Ä¶.Continue
Mandeville, LA ‚Äď Exclusive Transcript ‚Äď Can I just be one of the few sane voices out here? The country is not going to default. It can‚Äôt default. It is not going to not make its interest payments. Besides, many of the interest payments are due to what entity? All this money, all the debt you‚Äôre hearing about that has to be repaid and whatnot, all of this is not going to China. Check out today‚Äôs transcript for the rest‚Ä¶‚Ä¶.Continue
Mandeville, LA ‚Äď Exclusive Transcript ‚Äď Of course, ladies and gentlemen, there is no FHA, there‚Äôs you. You and me are the FHA. If somebody goes belly up on an FHA-guaranteed loan, guess who gets to pay it? Are you looking in your rearview mirror as you drive right now, friend? Give yourself a gold star and a pat on the back. Take another swig of coffee. Yes, that‚Äôs you. Happy? Check out today‚Äôs transcript for the rest‚Ä¶‚Ä¶.Continue
Mandeville, LA - Exclusive Transcript - Isn‚Äôt Representative White of Texas admitting that the state legislatures are in on the debt, and the state legislatures actively participate in running it up? They‚Äôre the ones that are spending the money. If you‚Äôre making contingency plans for what‚Äôs going to happen in the absence of borrowed federal money or manufactured money out of thin air, you then are admitting that you‚Äôre accepting the borrowed or manufactured money. ‚Ä¶.Continue
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Virginia, the two Carolinas and Georgia, may be said to defray three fourths of the annual expense of supporting the federal government; and of this great sum annually furnished by them, nothing, or next to nothing, is returned to them in the shape of government expenditure. - Senator Thomas Hart Benton