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Balance the Federal Budget

politics budget deficit

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#21 detachedbear

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Posted 05 May 2016 - 06:33 PM

Sorry shooter, at the time I posted this, I thought it was "hypothetical" like riding a unicorn to the prom, but it turns out that the answer to your question is quite simple and very practical (as it has been done before).  All that is needed to eliminate the deficit and simultaneously create inflation is to print money not backed by debt.  It is an old idea since it was done after the Civil War.  The printed Treasury notes were called "greenbacks" and they must have worked because the Treasury retained the authority to print notes for many years.  They may have caused a "depression", but that is hardly the horror that you seem to believe.  Our country has survived many of them and some would suggest without serious harm.  There is NO reason that the Fed should put the country in limitless debt and enslave our grandchildren.  It is simply a bad idea that has given too much power to the Federal Reserve Bank.  Power that it does not have under the Constitution and power that it has seriously abused.



#22 Yogibear101

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Posted 05 May 2016 - 07:30 PM

my bad for pointing out that our currency in the past was backed by our reserves in metals.


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