My point is that our economic problems are already a result of TOO MUCH DEBT? HOW does creating MORE DEBT solve the problem of too much debt?

Seems to me when a SYSTEM dosen’t work, (which should be obvious by now) one would realize that “doing the same thing while expecting different results” is a good definition of insanity!

Isn’t it time we began thinking “outside the box” by aking some basic questions such as:
1) WHY do we have to go into debt to obtain the things we need for a functioning society?

2) Borrowing immense sums of money has been suggested as a means of “kick starting” the economy and there certainly is no lack of a wide variety of infrastructure needs, both NEW and repairs to roads, bridges, water and sewer lines ad infinitum.

My queston is, WHY BORROW the money from the private banker operated fractional reserve fiat money banking system and end up paying for it twice in INTEREST on the bonds?

It is time the government took back the printing plates and CREATED the money as a credit instead so the bonds could be retired through taxes for just the principle saving almost half the cost in most cases.

The principle we should be working on is very simple, “anything that is physically possible and desirable (for the good of society as a whole) CAN and should be made financially possible”!

The only questions that need to be asked are;
1) do we have the necessay raw materials; and 2) do we have the people available that need jobs and can be trained as necessary to get the work done!

Since our fiat money is already created by government decree and is backed by the full faith and credit of the government, the same thing that makes a dollar bill created by the private bankers GOOD, (the taxing power of the government) would make a direct monetry creation of the government good, but WITHOUT the interest paid to the private bankers.

They could be allowed to continue their predatory lending practices to private corporatios and individuals willing to pay for their services, but anything government related should be issued as a CREDIT for the benefit of ALL citizens who elected them. The reduction in taxes by eliminating interest payments would be a tremendous stimulation to the economy.

Instead of socializing debt and rolling it over to be passed on to future generations we should be using SOCIAL CREDIT to utilize our natural resources to benefit ALL citizens!

1. Social Security was set up to avoid us having millions of destitute people who could not work at 65 (due to health) or could not get work at 65 (due to age discrimination). Your proposal could set us up to have millions of destitute seniors over the next 15 years, which is very bad for society. I’d rather pay them a little bit every year and force people to budget than to give them large, lump-sums and run the risk of gorging now and starvation later. It’s just not worth it.

Also, your proposed plan presumes that there are better places to invest money than in the Treasury bonds which the Social Security Trust holds. Over the last 10+ years, money in a mattress has outperformed the S&P500, so it’s not clear that high yields are in our future. Social Security money should stay in Treasuries and not be exposed to stock market risks.

Social Security is not in deficit; in fact, it has a large annual surplus, and it will have one for at least 10 more years. Under pessimistic economic assumptions, the accumulated surplus will last at least until 2041; under more optimistic assumptions, it will last forever. Let’s not ‘fix’ something that’s not broken nor is likely to be broken.

Finally, we should be looking at how to fix Medicare, which is coming under much more stress. We should also look at how we can extend Medicare coverage down to age 50 to cover older workers who are being hit hard now by layoffs and losing their health insurance.

We just can’t rely on Wall Street to manage vital necessities, such as retirement and health insurance, so we need to beef up Social Security and Medicare, not privatize them.

On the other hand, the markets are a great place for people to invest their ‘extra’ money, that is beyond what they need for food, clothing, shelter, health insurance, and retirement.

Thanks for keeping us on our toes, Mike.