Chapter II "Where did all this money come from and why doesn't anybody want it?"
In the Wiemer Republic (Germany after WWI) money became so plentiful that it wasn't worth the value of the paper it was printed on. Reason: The government printed more than it could back up and people believed it was worthless. As a result, it was.
One of the fears the Republicans (and a handful of Democrats) worry about is too much money that can't be paid for will make it worthless and it will take a wheelbarrow full of it to buy a newspaper. The official name for this is "Inflation".
So, between the potential for inflation where we run out of money and so much debt we can't pay it back or pay the interest on it to boot, the Republicans have a good point. Their alternative is business as usual which was taking us into a Depression where we wouldn't have any worthless money to pay off the debt the Republicans already gave us.
If any of this is right it's a matter of picking your poison. On the other hand, we are talking about politicians and their track record for being right.....is usually wrong.
