Beginning in 1789, America’s Constitutional form of limited governing took effect. As our new country became established, its authority was limited, as was its revenue – due to its meager tariff-based revenue – so if there was debt back then, it was minor and of brief duration.
2025 New Year’s Resolutions, Part Two
Even though we are (a few) weeks into 2025, I want to suggest some more New Year’s resolutions. The Federal Reserve should resolve to stop enabling excessive federal spending by purchasing Treasury bonds, thus monetizing the federal debt. The Federal Reserve’s monetization of federal debt enables the federal government to amass trillions in debt while … Read more