Amounts owed to the Social Security Trust Fund are not part of the “public debt” and interest credited to the Trust Fund is not part of the interest on the “public debt”. But, that aside, are credits to the Trust Fund of interest a “wash” for the overall budget? No...
The U.S. dollar is nothing more than a number on the federal government’s books. It is not a physical entity. There are no physical dollars. The U.S. dollarbillis atitleto a dollar showing that the bearer is owed a dollar by the United States government. For example, an author own...
“The doctor-patient relationship requires time to establish a trust, which comes with patients sharing stories of their life with you as it relates to their health,” John Dooley, M.D., an internist in private practice in Washington, D.C., shared with me one evening while driving home at...
The site allows you to search by name to see if you have unclaimed money. Possibilities include tax refunds to security deposits owed to you by a previous landlord and everything in between. Other opportunities for free money from the government can vary. You can get anything from energy to...
MMT assertswhen a nation has a sovereign currency, debt can be accumulated since it is owed to itself. Money can be simply credited to another’s account (printing money in old-fashioned terms) without having to sell bonds that require interest payments. This magic process involves keystrokes ...
The loan was taken out 36 months ago, which meant that June was the last payment owed. I verified that through customer service. The day after the final payment was due, a new charge in the exact amount shows up on the account. There is no explanation on-line, but the customer ...
To greatly simplify, money is a measuring unit, originally created by rulers to value the fees, fines, and taxes owed. By putting the subjects or citizens into debt, real resources could be moved to serve the public purpose. Taxes drive money. Viewed from this perspective, money was created...
Definition: Formosthouseholds, liabilities will include taxes due, bills that must be paid, rent or mortgage payments, loan interest and principal due, and so on. If you are pre-paid for performing work or a service, the work owed may also be construed as a liability. ...
pledge the account to us as collateral for a debt owed to us; or 3) deposit checks payable to any joint owner. if one joint owner requests that we not pay items authorized by a different joint owner, we may restrict the account and refuse to pay all items (including items authorized ...
(4.63T) of our 16T debt is owed to ourselves in this fashion: Social Security, Medicare and the balance in Military and Civil Service Retirement programs. Only 1.1T/8.2% is owed to China, the creditor we hear most about. We owe Japan about the same. If you’re curious, here’s a ...