US Debt is a direct division of the gold. In order to have an economy, we print bills that are backed by the gold. The more bills we print the more bills land in circulation, and the less each bill is worth. The issue we really have is the fucked up tax code that prevents that money from getting cycled back into the economy. There’s a literally a thousand more issues beyond this, but debt in economic terms is nothing like a credit card.
US Debt is a direct division of the gold. In order to have an economy, we print bills that are backed by the gold. The more bills we print the more bills land in circulation, and the less each bill is worth. The issue we really have is the fucked up tax code that prevents that money from getting cycled back into the economy. There’s a literally a thousand more issues beyond this, but debt in economic terms is nothing like a credit card.
No? That hasn’t been the case since Nixon. Fiat money has been the international standard for over half a century.
Are you stuck in the 1960’s?