2-minute video: US debt visualized. 2-minute read: US obvious solutions

Washington’s Blog

Dec 10, 2012

Demonocracy created a new and stunning visual to approach a grasp on US Federal Government debt of ~$17 trillion.

An easy tool to understand US households’ share of this tragic-comedy:

  • ~100 million US households means an average ~$170,000 debt/household.
  • Another way: ~$50,000 average annual household income means a household with $100,000/year income owes ~$350,000, and etc.

The good news is this problem exists only on paper. The mechanics of running a government debt-free was solved almost 300 years ago with Benjamin Franklin’s publication how the colony of Pennsylvania operated without taxes.

The great news is our solutions are obvious and easy to understand. Concise explanation with documentation:

  1. Monetary reform: the US doesn’t have a money supply, but its Orwellian opposite of a “debt supply.” Banks and the Fed create what we use for money as debts, then charge the 99% interest for its use. Monetary reform has government transparency (I know, I know, that’s unimaginable withouttotalOccupy victory) to create debt-free money for direct payment of public goods and services. This has game-changing triple benefits of full-employment as government becomes the employer of last resort, optimal infrastructure, and falling prices because infrastructure contribute more to productivity than cost. Documentation hereherehere. The American Monetary Institute is a leader for monetary reform.
  2. Credit reformPublic credit is at-cost, as opposed to what we have today with predatory cartel 1% for-profit credit. For example, public credit could pay all state and local taxes with a 2% mortgage and 2% credit card. It could also release literal trillions locked in government “rainy day” funds with lines of at-cost credit. The Public Banking Institute is a leading group for this reform.
  3. CAFR audit, reform: So-called “pension” and “rainy day” accounts are tragic-comic in non-disclosure and non-performance for budget, infrastructure, and pension funding. For example, Californians have $8 trillion in surplus assets withheld by government in this current structure that 1% “leaders” claim requires our austerity (yes, that’s about $650,000 per household). Walter Burienand Clint Richardson are leaders.

As great as these breakthroughs are, resource-based economics is our predictable future just beyond these three obvious reforms.

Americans and humanity are just “emperor has no clothes” obvious declarations away from freedom. Most of the 1% criminals will be revealed when the 99% end their wars and debt that kill millions, harm billions, and loot trillions that would make Earth successful for 100% of its inhabitants.

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