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January 4, 2013
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Congressional Democrat Proposes Minting $1 Trillion Coin to Pay off Debt

:icontbschemer:
TBSchemer Featured By Owner Jan 4, 2013
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Can't pay your debts? Just print larger denominations of money!
Has this guy ever heard of hyperinflation? More importantly, have those of you who vote Democrat ever heard of hyperinflation? This $1 trillion coin proposal is a seriously dangerous idea, which would instantaneously make the dollar a worthless scrap of paper. It has happened before with other currencies, and it will happen again with our own currency if this is allowed to go through.

How does hyperinflation affect you? Imagine the total loss of all of your savings. Got $200,000 saved up to buy a house? Too bad, now you can only buy a cheeseburger with it. Oh shoot, you waited too long- now you could maybe get a pack of gum with that kind of money.

How can you people vote for these idiots?
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:iconferricplushy:
FerricPlushy Featured By Owner Jan 14, 2013  Hobbyist Artist
Almost as ridiculous as a government having an arbitrary debt limit that can't even be enforced
Couldn't help but notice that there was no problem increasing the debt limit over a half dozen times under GW who was the first leader in history to wage war while lowering taxes
And last time I checked Obama said he wouldn't use the trillion dollar coin
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:icontbschemer:
TBSchemer Featured By Owner Jan 15, 2013
Right, because Democrats never have any problem with any level of irresponsible spending. So, when the Republicans succumb to its temptations, all barriers are lifted.

If the Democrats cannot be convinced to allow entitlement cuts, then this country will collapse economically.
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:iconferricplushy:
FerricPlushy Featured By Owner Jan 16, 2013  Hobbyist Artist
So you're saying it's the democratss fault GW increased the debt by 10 trillion dollars, and then it's Obama's fault he increased the debt 8 by 8 trillion? you can't have it both ways
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:icontbschemer:
TBSchemer Featured By Owner Jan 16, 2013
I'm saying the fault for the spending under Bush falls on both the Republicans and Democrats, but the Democrats are solely to blame for the spending under Obama. In other words, the Republicans are occasionally responsible, but the Democrats have no shame or sense.
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:iconferricplushy:
FerricPlushy Featured By Owner Jan 17, 2013  Hobbyist Artist
If republicans want so much fiscal responsibility why can't we cut our bloated military budget? Our defense budget is largest than the next 8 largest federal defense budgets combined.
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:icontbschemer:
TBSchemer Featured By Owner Jan 18, 2013
Fine. Cut it in half, and you save $300 billion per year. Yet, to actually balance the budget in the long term, you still need to cut at least another $700 billion per year from somewhere. Where are you going to get it?
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:iconferricplushy:
FerricPlushy Featured By Owner Jan 18, 2013  Hobbyist Artist
How much does freezing pay growth for elected officials, cutting all foreign aid, making all elected officials buy their own health insurance, limiting the number of tax deductions a corporation can take, creating tariffs on foreign electronics and imported cars, and not lending 7 trillion dollars on .001% interest to banks that turn around and buy government bonds for 2.75% interest save?
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:icontbschemer:
TBSchemer Featured By Owner Jan 18, 2013
Optimistically, a few billion. Got any better ideas?

Let me make it clear that entitlements are 83% of federal spending, the military is 15%, and everything else is less than 2%.

So you could eliminate the entire government except the entitlements, and we still would have a $300 billion deficit per year over the next 10 years, growing exponentially from there.

So what do you think needs to be cut if we ever hope to avoid a debt crisis? I'll give you a hint: it starts with "en" and ends with "titlements." Are you capable of figuring this out?
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:iconvorpalpen:
VorpalPen Featured By Owner Jan 10, 2013   Artist
It's as ridiculous a notion as the one the Republicans have of 'letting the U.S. default on it's payments because everybody hates their ideas', which is why the coin was brought up in the first place. Obama said there would be no cuts attached to the next self-imposed debt ceiling fiasco because Republicans don't want to pay the bills they've incurred, and he meant it. When he told them bitches he wasn't playing games, however, he was lying...who needs a coin when you have the 14th amendment!
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:icontbschemer:
TBSchemer Featured By Owner Jan 11, 2013
You're forgetting that it's the Democrats who are unrelentingly driving us into debt.
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