No More Scarcity

Good news! Representative Sabo (D-MN) has solved the problem of scarcity. We don't need to worry about environmental policy any longer - funding is unlimited. Sabo presented his plan as a way to fix the budget shortfalls of the social security program, but found the cure for all budgetary woes at the same time.

The treasury department runs what they like to call a 'trust fund' for the social security program. It is filled with over a trillion dollars of special treasury bonds that are payable from the general account at redemption. In other words - IOUs that future taxpayers have to pay for. Sabo wants to raise the interest rate of these bonds to create money. This would maybe be a good idea if there was any money -- not just a representation of future taxes. Maybe if we raised the rate to 50% we could fund the entire federal government! Oh wait, this is just another ploy to distract our attention from substantive reform. Maybe giving control of previously supposed 'public goods' to the market wouldn't be such a bad idea after all...