David Graeber, DEBT: The First 5,000 Years
DEBT: The First 5,000 Years
While the “national debt” has been the concern du jour of many economists, commentators and politicians, little attention is ever paid to the historical significance of debt.
For thousands of years, the struggle between rich and poor has largely taken the form of conflicts between creditors and debtors—of arguments about the rights and wrongs of interest payments, debt peonage, amnesty, repossession, restitution, the sequestering of sheep, the seizing of vineyards, and the selling of debtors’ children into slavery. By the same token, for the past five thousand years, popular insurrections have begun the same way: with the ritual destruction of debt records—tablets, papyri, ledgers; whatever form they might have taken in any particular time and place.
Tennessee Ernie Ford Sings 16 Tons (by curleyb3)
This song should be the theme to the goverment.
“Saint Peter don’t you call me ‘cause I can’t go. I owe my soul to the company store”
Just replace word store with goverment.
“Saint Peter don’t you call me ‘cause I can’t go. I owe my soul to the goverment”
Those savage sequester budget cuts! O, the humanities! Those white slivers are the draconian, heartless, unwise, gargantuan sequester cuts. The purple part is the federal budget — the money that will be spent after the sequester cuts those evil Republicans are making the government do. Just look how spending nosedives — the country will collapse!
No wait… real spending is going up even after the “budget cuts,” isn’t it?
This national emergency was brought to you by the fabricators in the White House, and the leadership of the Democratic Party. (Not to mention a few Republicans who keep yelping about how the defense budget can’t be trimmed or we will be left vulnerable.)
Newly surfaced audio of Obama in 2006: raising the debt limit “a sad state of affairs”
Never mind the fact that yesterday he demanded a no-strings-attached, non-negotiable debt limit hike. In 2006, Senator Obama was very concerned about the “sad state of affairs” that was America’s debt.
Here’s the newly surfaced audio:
Obama then decried the $8 trillion national debt. During his first term alone, the United States’ debt has risen to more than twice that number: $16.4 trillion, but for some reason the nation’s debt doesn’t matter very much any more. Those darn Republicans are “holding a gun to the nation’s head” and we must accrue more debt immediately!