Yes, the National Debt is an illusion and the current covid-19 crisis is proof positive that a Utopian Capitalist Economy is possible.
I remember very clearly in 1981, when our national debt reached 1 trillion dollars. We were told here is what that 1 trillion looks like in writing, $1,000,000,000,000.00. I remember it making many headlines with examples of what a trillion is, such as a trillion paper clips could reach the moon and back, a trillion drops of water would fill Lake Michigan, a trillion blades of grass would engulf the entire earth. I am exaggerating but you get my point.
Our money used to be backed by gold, in 1933 it was slighted (not adhered to). In 1971 it was completely severed as policy. What did/does that mean. When we were on the gold standard the mint could not print more money if there was not enough gold to back it up. Now that’s a great policy if you want to limit the amount of money in circulation. However, it’s A REAL BUZZ KILL if you like to spend. We Americans love to spend!
It has been replaced by what’s called fiat money a term that’s used because the government orders that its printed paper must be accepted as a means of payment. And there begins the start of the Illusion!
I have been saying for many years that the cry about our going in debt the terrible deficit is like the boy crying wolf! The corona crisis, now proves my point! How you ask? As you can see simply with the stroke of a pen the U.S. Treasury can be authorized to turn on the presses and start printing! Printing, 2 trillion, 4 trillion perhaps 6 trillion to get the U.S. thru the 2020 Corona Crisis.
Think now back to the hypocrisy, and or flat out lies on both sides of the isle. It’s too expensive, we can’t put our next generations in such debt. So to be polite I have called the National Debt an Illusion. To be more direct its’ B.S.!
Think about those that have been denied, healthcare, homes, and or an education, because your government said we can not afford it. This Corona-bailout, or assistance proves we can!
What does any of this have to do with the Utopian Capitalist Economy Project? Well you will see our well thought out proposal can work! Which means Healthcare, Childcare, Education, and housing for all can be made into a reality. While maintaining a Capitalist Economy and Society!
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