The Instigator
ironleg
Con (against)
Tied
0 Points
The Contender
Gibbons
Pro (for)
Tied
0 Points

Whether Or Not National Debt Is Real

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Voting Style: Open Point System: 7 Point
Started: 2/26/2015 Category: Politics
Updated: 2 years ago Status: Post Voting Period
Viewed: 338 times Debate No: 70728
Debate Rounds (5)
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ironleg

Con

This debate argues whether or not the United State's National Debt is real or not. I am Con or against the idea that national debt can be real. I will start my argument off with this:
What backs the US Dollar? The answer is nothing. Not gold, silver, gas, or a pile of bananas. Thin air is figuratively what backs the US Dollar. SO what gives it worth? Not just the belief in the Dollar, but the loans we take out from the banks to purchase the material items we cannot actually afford. There"s really no limit on how much banks could create, provided they can find someone willing to borrow it. As long as someone takes out a loan and owes the bank money, the money can be printed, making it have worth (as debt). When you take out this loan, the banks inputs the amount of worth in a computer and pretends to lend you some worth in currency. In return, it expects you to pretend you borrowed it. The bank does not physically have the money in its vault to "borrow". They literally "make" money because you requested to "borrow" it. So in essence, the money is not real, so the debt is not either. The only reason the US economy can currently function is because of the debt. Without this made up debt, it would seem there would be no reason to take out the loans no one can afford.
My reasoning is stronger as I go, debate with me. Ask questions.
Source: https://libertyroadmedia.wordpress.com...
Gibbons

Pro

There is debt you dumbass. If there wasn't Google wouldn't have a calculator that calculates it.
Debate Round No. 1
ironleg

Con

Google is one of the big businesses that is controlling the fake debt, Dakota.
Gibbons

Pro

Gibbons forfeited this round.
Debate Round No. 2
ironleg

Con

ironleg forfeited this round.
Gibbons

Pro

Gibbons forfeited this round.
Debate Round No. 3
ironleg

Con

ironleg forfeited this round.
Gibbons

Pro

Gibbons forfeited this round.
Debate Round No. 4
ironleg

Con

ironleg forfeited this round.
Gibbons

Pro

Gibbons forfeited this round.
Debate Round No. 5
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