Why We Should Support Big, Strong Federal Government
When I say the middle class and poor should support big, strong federal government, I’m referring to our federal government’s right and ability to enforce our U.S. Constitution, federal law and regulations nationwide and to create currency out of thin air.
This unique feature of our government is arguably the most important aspect of our government and should be the most celebrated and cherished feature of our government.
Fiat money is legal tender created by our U.S. Congress.
It doesn’t make sense for our government to keep borrowing money from the Federal Reserve since our Congress enjoys constitutional authority to literally create and use currency as Congress sees fit.
How Does Our Government Manage Money?
Bill Maher asked Bernie Sanders, “How much money does our government have? Are we about to run out of money?” Bernie did not answer Bill’s question and quickly changed the subject.
Congressmen and women do not like it whenever anyone asks them, “How much money does our government have? Are we about to run out of money?”
Because they know they will provide a bogus explanation or no explanation at all.
Why is that? Congress has been lying to the American people for decades telling Americans Congress manages our money like a household budget.
Nothing could be further from the truth.
The truth is Congress borrows money from the Federal Reserve who creates money OUT OF THIN AIR with a few keystrokes of a Federal Reserve computer. It is absolutely TRUE.
So why doesn’t Congress create funds out of thin air like the Federal Reserve Chairman does with a few mighty keystrokes?
How Do We Pay For What We Want?
The progressive plan is to STOP borrowing money from the Federal reserve and instead, create currency and deposit said currency into a U.S. government bank account at the United States Treasury Dept: 100% debt-free.
There are many economists who agree on the basic notion that yes, Congress has the lawful, constitutional authority to literally create U.S. currency in the form Congress sees fit and deposits that currency directly into a U.S. gov’t bank account.
Opponents make the baseless fear-mongering claim that doing such a thing would create massive inflation and ruin America.
Ruin America? Ruin America for whom?