duga

Ok, so you obviously know what I am talking about then...OMO's determine the base money in our economy, which is at the discretion of the Fed. So if you also know how a fractional reserve works, how can you possibly say it isn't increasing our national debt? Anytime the Fed puts more money into circulation, it is through a loan. A loan the American people have to pay back. This results in a higher national debt.

I didn't say that this was the main reason for our current situation. I do think it contributed (in multiple ways), however, I simply was commenting on how a central bank combined with the way we manage our money is a horrible way to run a country. And it most definitely runs the country. Even the name of our system implies money, and if we plan on keeping it that way then we should really rethink the whole central bank idea.

Instead of typing out everything he is doing that I actually agree with, I found this article:

Daily Kos: State of the Nation

Maybe a lot of that doesn't have a lot to do with undoing Bush's work, as when I mention that I'm mostly talking about the economic mess we are in (which he is most definitely trying to undo), but there is still a lot to appreciate there.

Now, please don't misunderstand me. I have my criticisms. I have a lot of criticisms, actually...I just can't stand how everyone defaults to "Yeah, everything he is doing is wrong". I even gave Bush some credit early in his presidency until I realized he actually was an idiot. Maybe I will make the same conclusion with Obama, but reading through that list and knowing the situation he inherited, I'm willing to cut some slack.

Get back to me next year and I might have a different opinion, but right now I am still hopeful.

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Confusion will be my epitaph...