On a Tangent II: An Idea to fix the Debt/Economy/Jobs Problem
What if we just print the money we need to pay off the entire debt? Why is that crazy? Wouldn’t the positives outweigh any negatives?
Do it all at once or over 10 years. Our total debt equals only 60% of our GDP if you take out the money we owe various of our own govt agencies. (Japan’s is 240% by comparison; Greece and Italy are well over 120%).
Here’s the result as I see it:
First, the DEBT reduced to zero. Second, the dollar plunges. Good! That means our goods and services are cheaper for other countries to buy which means sales increase and JOBS are created and the ECONOMY improves.
I don’t know what the negative is to that but if you do please let me know. And feel free to pass this along to your local congressman. On second thought, don’t. This is not really about the economy so much as it is politics/elections.
I think we should adopt an Amendment which gives us a Parliamentary form of government. That is, whoever is in power can get their agenda passed. We elect a president by a majority and he/she should be able to get the agenda on which they were elected, enacted. If it works, great, if not, elect someone else. This will remove the fog of blame that has this country in its current state.
Also, eliminate the silly tax loopholes that allow GE to pay 10%. I also think a flat tax for all individuals is a very good idea that meets the “fair share” argument.
That’s it for today, back to working on stuff I actually know something about!