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Printing $

How can Obama spend soooo much money that we dont have? I dont see how it can ever be good to spend billions of dollars that we dont have. Scary!

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Anonymous

Asked by Anonymous at 11:15 AM on Aug. 28, 2009 in Politics & Current Events

Answers (8)
  • congress needs to stop him. He should not be spending money he does not have. Bush did the same thing with congress blessings.
    So it just means We The People have to shout and say NO MORE to the people we voted in office and tell them next time we will not vote for you!!!
    gammie

    Answer by gammie at 11:21 AM on Aug. 28, 2009

  • You're right, but it's important to note that he didn't start it. The most important thing to realize is the principle that we have been living in a hollow economic bubble of fiat money ever since we went off the hard money standard. Printing money and inventing credit that has no backing leads to inflation. The problem with Obama's plans and current policies is that they are ramping the whole thing up in such a way as to explode the whole thing quickly, rather than rocking along gradually as his recent predecessors have done. The whole thing is unconstitutional and that's what is important - not personalities, nor the reason the money is being spent.
    callmeann

    Answer by callmeann at 11:21 AM on Aug. 28, 2009

  • Thats why we're in debt trillions and trillions of dollars. I'm not saying ALL the debt is his fault, but he sure isnt making it any better by ADDING TO IT!
    BEXi

    Answer by BEXi at 11:25 AM on Aug. 28, 2009

  • I'm going to show my ignorance here, so please forgive my naive question. I don't know enoughj about economics to know the answer to this -

    Everyone says printing money in order to make up debt is bad for the economy. How does that work? How does it become "bad"? I can kind of see it, but I need someone to explain it to me in layman's terms....
    Imogen13

    Answer by Imogen13 at 11:31 AM on Aug. 28, 2009

  • Imogen- I asked the same thing a while back.. "well why dont we just print more money?" They thing is, the more money we print, the more it devalues the actual dollar.
    BEXi

    Answer by BEXi at 11:32 AM on Aug. 28, 2009

  • not they, the*
    BEXi

    Answer by BEXi at 11:33 AM on Aug. 28, 2009

  • What a bunch of pessimists! When the economy gets better, less unemployment, more people will be paying taxes. (Especially when the Bush tax cuts to the top !% RICH PAY THEIR SHARE) The deficit will go Down.
    Anonymous

    Answer by Anonymous at 12:47 PM on Aug. 28, 2009

  • So, Anon, by your indication - Next April (say about the 16th) when all the rich have paid their taxes, the economy will get better? Wow.... ANNOUNCEMENT EVERYONE..... We don't have to worry about the TRILLIONS that our children will be paying back - the rich people are gonna pay it for them NEXT APRIL. We've all been worried about absolutely nothing. Those pesky little things like unemployment being 16%, China owning a large percentage of our country, cap & trade and a deficit like this country has NEVER seen - has all been a made up ruse - it's just been a good reverse psychology method made up by the government. Whew! I feel better - don't you?


    Thanks anon:47!wink

    PaceMyself

    Answer by PaceMyself at 1:45 PM on Aug. 28, 2009

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