October 25, 2018
The 'Limitless' Capacity of Government to Create Money
In 2007, while working for Procter & Gamble, fashion model Gisele Bündchen, wife of Patriots quarterback Tom Brady, insisted on being paid in euros rather than U.S. dollars. Since Ms. Bündchen was the highest paid model in the world at the time, playing the demanding diva must have come easily for her. However, a proper prima donna would have demanded that she be paid in gold rather than some "fiat currency" like the euro or the dollar.
On October 5, the Kansas City Star ran an op-ed by guest commentator Geoff Coventry, which was posted online the night before as "The government isn't a business or household. Democrats should reject 'pay-go.'" Coventry doesn't approve of Minority Leader Nancy Pelosi's renewed pledge to abide by PAYGO should she again become speaker of the House. PAYGO is a policy that allows Congress to spend money on new...(Read Full Article)
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