Empire Building, the Debt Ceiling, the Budget Deficit, and the Samson Solution

Petras, James
Date Written:  2013-10-17
Publisher:  Dissident Voice
Year Published:  2013
Resource Type:  Article
Cx Number:  CX15250

Raising the debt ceiling allows the State to keep borrowing and pay its billionaire creditors.Financing the budget deficit requires borrowing, which involves the sale hundreds of billions of dollars worth of US government bonds through Wall Street — but at a cost to the taxpayer. The common denominator is that the entire edifice of finance capital and all of its support structures depend on debt financing by the State. By borrowing and then taxing its citizens the Treasury extracts wealth from the vast majority of Americans.

Subject Headings

Insert T_CxShareButtonsHorizontal.html here