10. Although U.S. Notes cannot directly pay off the debt, the tax revenues generated by businesses and individuals newly employed in public works projects, CAN be used to pay the debt. Eventually, the surplus could retire the debt, forever. A sovereign United States need not borrow its own money, at all.
11. Our nation's bond rating, so critical
to low borrowing costs if we continue to borrow, would actually be
improved. S&P, Moody's etc.,
would see that we have the wherewithal to pay our bills, and to create
low levels of unemployment and an improving infrastructure for the
future. Our rating should return
to AAA and stay there.
This is a lot to take it, I know, but I have studied alternative economics for
4 years now...taken a dozen economics courses, read everything I could and
discussed these theories with economists like Dr. Michael Hudson, Dr. Mason
Gaffney, and very many more. I am now the president of Common Ground-NYC
- a Georgist economics group - and New York Coordinator of the Public Banking
Institute, where we discuss these changes regularly and try to reach out to
people like you to implement them.
I welcome the chance to discuss these issues and more with you in the near future.
All the best,
Scott
Baker - President:Common Ground - NYC; NY State Coordinator:Public Banking Institute; Opednews Blogger/Senior Editor; Huffington Post Blogger; Author
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
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