DEBT and DEFICITS UNDER DONALD T.
https://www.thebalance.com/current-u-s-federal-budget-deficit-3305783
The major problem with the US debt is the way it is funded.The treasury issues bonds to raise money to cover our deficits.These bonds are purchased by private and government entities (foreign and
domestic).That's how communist China owns some of our debt. They purchased USA bonds on the open market.Somebody wised up and had the US treasury buy these bonds. That way we owe this
money to ourselves. This goes to a very basic US Constitutional phenomena where the US
Congress has the power to "coin and issue money". The US Congress in their infinite wisdom
gave part of this power to the Federal Reserve System in 1913 with the help of RI's favorite son
Nelson W. Aldrich. The FRS creates money through the banks and the US Treasury creates money bonds through the US Treasury.
The big question is -how do you get the purchasing power in our economy into the hands of the
citizens. In our capitalistic system the average person get's their purchasing power-wages- by working for a company or corporation. This is part of our private free enterprise system-the best system to
accomplish this.This is part of our private economy. Socialism wants the government to do this.
The socialist experiments have all been complete failures. Our private free enterprise system
works from the bottom up,where as, the socialist public economy works from the top down.
In the socialist system the decisions are made at the top where all the power is.
In our private free enterprise system the multi-trillions of decisions made each day is done at the bottom,where all the action is going on and where the people have the power to drive the US economy.
The major problem with the US debt is the way it is funded.The treasury issues bonds to raise money to cover our deficits.These bonds are purchased by private and government entities (foreign and
domestic).That's how communist China owns some of our debt. They purchased USA bonds on the open market.Somebody wised up and had the US treasury buy these bonds. That way we owe this
money to ourselves. This goes to a very basic US Constitutional phenomena where the US
Congress has the power to "coin and issue money". The US Congress in their infinite wisdom
gave part of this power to the Federal Reserve System in 1913 with the help of RI's favorite son
Nelson W. Aldrich. The FRS creates money through the banks and the US Treasury creates money bonds through the US Treasury.
The big question is -how do you get the purchasing power in our economy into the hands of the
citizens. In our capitalistic system the average person get's their purchasing power-wages- by working for a company or corporation. This is part of our private free enterprise system-the best system to
accomplish this.This is part of our private economy. Socialism wants the government to do this.
The socialist experiments have all been complete failures. Our private free enterprise system
works from the bottom up,where as, the socialist public economy works from the top down.
In the socialist system the decisions are made at the top where all the power is.
In our private free enterprise system the multi-trillions of decisions made each day is done at the bottom,where all the action is going on and where the people have the power to drive the US economy.
