The measure of an economy is
has a larger supply of
than does a small
Therefore, to grow an economy requires a growing supply of
Every form of
is a form of debt.
Therefore, a growing economy requires a growing supply of debt.
For more information about the U.S. National Debt, write:
Rodger Malcolm Mitchell, firstname.lastname@example.org
"When the obvious answers don't work, the correct answers will be counterintuitive."
Click the cover to see excerpts from the book
Bias is a belief that prevents objective consideration of an issue. We all have biases. We believe things, without having evidence.
Biases can be very powerful. When we have one, we tend to be absolutely, positively sure we are right, even when evidence points in the opposite direction.
How else can you explain the widespread belief that taking money out of an economy through increased taxes and/or decreased federal spending (known as a federal surplus) will help that economy grow?
FREE MONEY discusses the most common biases about our economy and why we have those biases, and it identifies the counterintuitive truths. For instance:
You probably share this very common bias: A federal surplus is financially more
than a federal defict.
You believe this because you "know" that you would rather have a surplus than a deficit in your own bank account. And you assume the federal government is the same. It just seems to "make sense."
But do you have any facts to back your intuition? Undoubtedly not, because the facts show:
--Every depression in our history began with a series of
--The most recent recession began with the Clinton surpluses.
--Every recovery began with a series of federal deficits, including the most recent recovery.
--The federal government never has had difficulty paying its debts, not even during the darkest days of the Great Depression, and not during the largest federal deficits in our history.
--A growing economy requires a growing supply of money; Deficits are the way, the only way, the federal government creates money.
Those are the facts, yet you feel something must be wrong. You have been taught that debt is bad and
surplus is good. You would prefer to rely on your intuition, rather than trust the facts. The facts can be twisted, but your intuition always, always is sound. That is the way we have evolved.
And that is why you should read FREE MONEY. Not only will it show you the facts, but it will show you how to understand and eventually, to believe them.
"How else can you explain the widespread belief that taking money out of an
economy through increased taxes and/or decreased federal spending (known as a federal surplus) will help that economy grow?"
What does this logical progression tell you?
economy needs a larger supply of money than does a small
*Therefore, a growing economy needs a growing supply of money.
*All money is a form of debt.
*Therefore, a growing economy requires a growing supply of debt.
*U. S. Federal Debt is the safest, most controllable form of debt, because the federal government, alone among borrowers, never will default.
*Thus, there is no
federal debt or deficit problem, and a
balanced federal budget guarantees
recession, and depression.
Enjoy the truth. There is a
national debt solution. The
federal budget deficit is necessary. The US national debt is a synonym for "money."
More Articles by Rodger Malcolm Mitchell
Medicare: A Consumer Problem
Read Letters to the Media
US National Debt is $9 Trillion!