Submitted by letsgetitdone on Sun, 06/06/2010 - 10:52pm
Warren Mosler, an international financial consultant, and Independent Party Candidate for the Senate in Connecticut has issued a challenge to his opponents. Here's the nub of it.
A 37 year ‘insider’ in monetary operations, Mosler knows as a fact of actual monetary operations that, operationally, there is no such thing as the US government running out of dollars, being dependent on foreign borrowing, or potentially facing a solvency crisis like Greece. Nor is there any financial reason to cut Social Security or Medicare benefits. To make the point, he’s offered to pay $1 million of his own money to any of his Senatorial opponents on the ballot who can prove him wrong. ‘Those fears come from pure fear mongering from supposed experts, with no factual basis, and those unwarranted fears are the true obstacles to the return of full employment and prosperity’ said Mosler.
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