Obama's Debt Commission Reports

[WinePusher]

Recommendations by the Obama Debt Commission are: http://money.cnn.com/2010/11/10/news/ec ... /index.htm

1) Reduce Domestic and Defense Spending by $200 Billion Dollars
2) Raise the retirement age to 68 by 2050
3) Lower income taxes and abolish the "Wealth Tax."
4) And more recommendations.

-Do you favor any of these recommendations?

[ChaosBorders]

Might read up on what the Federal Reserve is. Since 1913 its has been the central bank of the USA currently headed by Bernanke. There are 12 Fed Banks. Any grade school student can tell you that if you bring in less then you owe then you are in debt on a personal level. On a federal level it is the same, except to cover this debt--or at least make a payment on the interest they just print more money. US dollars are "Federal Reserve Notes." They have nothing backing them except the word of the Federal Reserve.

As of March 2009, the market value of that gold is around $247.8 billion.

Not sure how having almost a quarter of a trillion dollars worth of gold means they have 'nothing backing them.' But even ignoring that, money by definition is "any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context." So long as US dollars are generally accepted as payment, they are money, regardless of whether they are based solely on the word of the Federal Reserve or not.

As such, your claim that "You are talking like there IS money. There isn't. It goes to the Fed Reserve for debt repayment" is patently false.

Furthermore, please provide evidence "a rolling stone gathers no moss" or withdraw the claim. And please provide evidence that "moderates are just like liberals" or withdraw the claim. And please provide evidence that "they wear glasses" or withdraw the claim. Second challenge on those last two.