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Ask the people who receive the benefits where it went to. The farmers, the
IMF, the military, social security (since it was put into the general fund),
Medi care( now also in the genral fund), the FBI, CIA, the space program,
Subidies and grants, Senators, congressmen, roads, bridges and buildings,
environmental clean up, hundreds of government agencies and Judges, marshalls,
and about 45% of the population that directly or indirectly receive their
income from the Federal government. Now when you spend more on these
worthwhile projects then you receive to pay for them you issue bonds and print
money. Only the very rich can borrow money and only a country can print it
legally. Nuff said, Ira
kohath wrote:
> That's interesting. I am paying 60% of my salary to the government who in
> turn owes that money to me. Funny, I always seem to make the payment every
> year around April 15th, but I don't seem to ever get any of it back, and in
> fact am told that I need to pay more each year to help fund this peculiar
> accounting situation you have described. Could it be that this is not the
> correct answer? Any more guesses?
>
> > funny, no one ever says whom
> > this debt is owed to?
> >
> > Kohath
> >
> > It's is owed to 'you', through pension funds for your retirement,
> > insurance companies to pay out on life insurance, zeroes held to pay for
> > college, Treasury Bills held by corporations in which you hold stock.
> > Thru direct and indirect means, the American people are the main holders
> > of Treasury debt.
> >
> > That is why I feel there is not enough attention paid to the relatively
> > small percentage of debt held abroad. This fraction (I think someone
> > here stated 13%, but I admit I don't have a figure handy) is the part
> > without the 'owing money to myself' effect.
> >
> > Regards
> > DanG
> >
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