• As long as the US Treasury Dept. has to barrow currency from the Federal Reserve Corporation the US can never be out of debt or lower the deficit. The system of fiat currency is set up to fail.
    • Cry me a River
      Thinker, what does that mean? Is money really backed? Or does it just get printed?
    • Linda Joy
      Our money hasn't been 'backed' for a very long time now. They just print it. Banks are only required to have something like ten percent of the cash. Then banks are allowed to charge interest on money they loan that doesn't exist except on paper.
    • Thinker
      Linda is correct in her comment. It is called fractional banking. Fractional banking requires the loaning institution to have 10% currency on hand. This means if you barrow $1000 the loan institution has to have only $100 on deposit. The $900 balance is currency created out of thin air, it doesn't exist except on paper or in a computer. As a barrower however you are required to pay the full $1000 plus interest. This is how banks make their money. It is the same with the Federal Reserve Corporation. I have read if 100% of the currency brought in from income tax went to pay just the interest owed to the Federal Reserve it would only pay a very small fraction of just the interest owed. As long as the Federal Reserve Act of 1913 is on the books the USA will never pay on the principle of the money owed. The Federal Reserve Corporation is owned by the Rothschilds, the Morgan's, the Roosevelts, and the Bush family (Yes, the ex-presidents). The Rothschilds own all but 3 currencies in the entire world and control all. The Rothschilds say, "Give me control of the currency of any country and I care not who writes their laws." They control it all!
    • bostjan64
      I wish I could say that this is a crazy conspiracy theory, but it's true.
  • Yes. And its really simple both for individuals and government. You ready for the big reveal? Prepare yourself now! This is information that will change your life!!! DON'T SPEND MONEY YOU DON'T HAVE. Yeah, it really is that easy. Steve Martin SNL debt skit:
  • No. the USA will either need to join into the Amero to escape its debt, fall off the fiscal cliff, or be broken up and privatised.
    • Thinker
      If the USA were to bring in the Amero the amount of currency you have on hand, in the bank or elsewhere, would be worth about 3 cents on the dollar if you are lucky. The Rothschilds would still own it and control it. Remember you cannot win against the Rothschilds. President Kennedy tried with the American Bank Notes which were controlled by the Constitution as required. He was assassinated 3 months later. The first thing Johnson did as president removed the American Bank Notes and gave the Federal Reserve more power.
  • Theoretically, yes. Practicably, no.
  • of course! There many options to finance them; the govt. could issue bonds, go to the international monetary fond,get loans in international banks, get money from Federal Reserve etc.
    • Thinker
      The Treasury Dept. does print bonds and sells them on the open market. One of the biggest buyers of these bonds is China. China holds them until mature they then come to the US Treasury wanting the currency plus interest. Because the Treasury doesn't have the funds to cover the bonds presented the Treasury is required to borrow the funds necessary from the Federal Reserve Corporation to pay off the bonds. This puts the USA deeper in debt to the Fed. Remember the Federal Reserve is not part of the federal government but is a private corporation operating in violation of the USA Constitution, Article 1, Section 8, Paragraph 5.
  • Quite. Tax the rich.
    • Archie Bunker
      The all-encompassing, blanket answer.
    • desotapop
      Yes it’s a good one
  • Sure, but politicians are unwilling to do what it takes to make that happen.
      Correct answer.
  • Biden has done a credible job in reducing the debt.

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