There are only two kinds of resources: people and natural. All goods and services flow from the action of people resources on natural resources. Money is the medium of exchange of which there should always be a balanced supply. Article 1, Section 8, of the Constitution gives Congress three means to raise money: taxation, borrowing money and most important the right to coin and print money. Why only use two legs of a three leg stool?
The question that should always be asked: what is it that needs to be done? If there are people resources and natural resource available, there is no excuse for not getting the job done. The lack of money is not a valid excuse.
To compare the National Debt to that of and individual is unjust. To have a National Debt in the first place is based on ignorance. The framers of the Constitution were not that stupid. They knew there should always be an adequate money supply, and they provided three ways in the Constitution.
Article 1 – The Legislative Branch
Section 8 – Powers of Congress
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; WHY NOT USE THIS LEG OF A THREE LEG STOOL TO SOLVE AMERICA’S ECONOMIC PROBLEMS? WHY USE ONLY TWO LEGS?
Consumer price control: Let the free market work: We are people price control: We are the market.
The economic assets of America consists of more than one year of GDP or GNP. The economics assets of America are more like 213 trillion dollars. Multiply 14.6 times 14.6 that will give you a more accurate number. The total assets of the Federal Government is a quadrillion dollars. The deficit is a National Joke of small minded people.
Congress needs to be educated. They need to go to the Internet Free Press.