$21 Trillion? Not my debt!

Every election we hear politicians harping on the problem of the growing debt. The debt grows with every new president, reagrdless of what they promised. There is a simple solution that most have overlooked because eliminating the debt is simply of no concern to them. Remember that most politicians are financed by big business, and no matter how personable they seem to be, they are only interested in continuing the profiteering.

Why do we have debt in the first place?

We hear a lot about debt and deficit, two subjects that are often confused. The debt is the total amount owed by the government, over $21,000,000,000,000 at the time of this writing. The deficit is how much that amount grows every year. To put that in perspective, the debt is the total balance on your credit card, and the deficit is how much your balance goes up every year. 

Did you notice anything?

If you have a credit card, you likely don't want the balance going up every year for two reaons. First, your payments get bigger, meaning more of your paycheck goes to paying your debt. Second, the interest gets bigger, which means more of your paycheck goes to the bank that lent you the money.

To whose benefit is deficit spending?

Only the lender benefits from deficit spending, and they are happy to see it happen. Banks, like every other corporation, like to do whatever necessary to increase sales and profits. If the amount owed to them increases every year, so do their profits. They are not concerned with the fact that their money is in someone else's account, they are more concerned with the increased cashflow that it creates.

So why do I say this is not my debt?

Corporations are ficticious legal constructs that protect employees and officers of a company from liabilities created in the operation of the business. This means that if a corporation decides not to pay it's loans, the lenders can not hold any of the officers of the corporation responsible. In other words, the debt belongs to the corporation, not the officers, and certainly not the customers.

While a government is not a corporation, it is a very similar ficticious legal entity that operates by many of the same rules.

I didn't ask for the money, I didn't receive it, I didn't sign for it, and I didn't spend it, so why I am expected to pay it?

On top of all of this, we can look to who the lenders they are. One of the biggest lenders is the Federal Reserve. Many people believe the Federal Reserve to be a part of the US government, but The Fed is no more federal than Federal Express, and has no reserves.

The US Mint owns the printing presses, designs the plates, buys the ink, buys the paper, pays the employees, makes the rules, manages the printing, and somehow this is called borrowing.

I don't just throw this term aronud, but I mean it when I say the Federal Reserve is a scam. They did not lend any money to the US government but in some mathematical trickery. To believe that this is actually any sort of legitimate lending is to believe that you could borrow money from your own checking account, deposit it into the same account you borrowed from, and then force yourself to pay interest to yourself.

Eliminating the debt can be a simple process if we stop putting scams and corporate profits above the prosperity of the American people.

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