Solving the Debt Crisis the American Way
Our forefathers turned their debts into currency. That Constitutional approach could work today.
On Friday, Jan. 13, Treasury Secretary Janet Yellen wrote to Congress that the U.S. government will hit its borrowing limit on Jan. 19, forcing the new Congress into negotiations over the debt limit much sooner than expected. She said she will use accounting maneuvers she called “extraordinary measures” to keep U.S. finances running for a few months, pushing the potential date for default to sometime in the summer. But she urged Congress to get to work on raising the debt ceiling.
Lifting it above its current $31.385 trillion limit won’t be easy with a highly divided and gridlocked Congress. …
Read the full article on ScheerPost here.
Eliminate , Fed = Then = All Money to be Created by Treasury like Lincoln DID. Interest Free
The Central Bank of the Soviet Union succeded in creating sufficient money to increase industrial production by 400% while US and European industrial production outside of Germany decreased by 25% during the Great Depression. Germany increased industrail production by 80% by creating its Reichsmark at no interest to build a war machine that destroyed much of Europe that relied on private banking to create money at interest. If the USSR had not been able to pay its workers with interest free money, Germany may have conquered them and many, many more lives would have been lost.
The US as a whole has a tremendous need for infrastructure build, rebuild and maintenance. Enough money could be created by a truly national bank, with the help of state and local govts., to employ many at constructive work and make the US great again.
The most effective way the bankster .00001% control the 99% is by division. Stockman is doing his job as a mercenary of the banksters by railing against lifting the debt ceiling and championing the attack on "entitlements". I wonder if when he collects on an insurance claim, whether he labels it an entitlement? The GI Bill after WWII did that by giving free education and training to 8 million vets. 3 million at college and 5 million at vocational schools and providing public VHA loans to millions to buy homes. That stimulus increased productivity and GDP but did not create much inflation. My single mother of three was able to buy a home in Concord, CA. for $6,400 with the help of the GI Bill. That same house is worth $500,000 now, because of private banking.
I was able to go to Berkeley tuition free. Now tuition is $14,500/ year. Reagan started charging. There were 8 UC campuses and 7 prisons. Now there are 9 UC campuses and 37 prisons. I think it costs taxpayers more to keep someone in prison than to send them to college or vocational school for free.
Those are things Stockman and his fellow corporate capitalists approve of.