ANSWERS / Government Debt
Are you happy that the Federal Government has borrowed $53,000 in your name -- that is, in the name of every man, woman, and baby in the US or $212,000 if you have a spouse and 2 children?
The federal government currently owes about $16.5 trillion dollars and there are about 310 million of us living here, which is where the $53,000 comes from. How much is a trillion dollars! Well, most of us can get a handle on 1 million dollars, so let's assume we spend $1 million per day – when would we have to start in order to spend 1 trillion? 500 YEARS BC! And you and I owe 16.5 of those.
In the Real Money Economy, two factors are radically different re debt:
1) As described in the ANSWERS page, at point of system turnover and under today's conditions, 100% of the federal debt would be paid off. This is possible to do without any inflation as the banks need to be topped up from the 10% reserve now being carried to the full Trust Banking System. To get full understanding of this read the main section in the ANSWERS page.
2) Once that has happened and interest would no longer need to be paid (as there would be no debt) plus the income from seigniorage, a balanced budget will be in place under today's spending and taxing regimen.
The result would be no debt and no deficit.