Printing press money
Since it seems like a foregone conclusion that we are going to start up the presses and print a lot of money, I propose that we spend the money into circulation rather than borrow it into circulation.
Either way will be inflationary, and the only thing backing it will be the credit of the USA.
There would be one huge difference. If the money is borrowed, it will add to the already crushing national debt and the interest will have to be serviced. At some point, the interest will become impossible to pay.
On the other hand, if government prints the money and uses it to pay toward the budget, there would be no additional interest added to the national debt.
I would hope that the prospect of hyper- inflation would keep politicians from printing an unlimited amount of this unsecured paper, but that would be the case either way.
This might require repeal or amendment of the Federal Reserve Act, but that could be done. In fact, this might be the very time to do it.
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