Add new comment

The US is using an unbacked fiat currency that it can never "run out" of and as it's unbacked, it doesn't have to get anything from anywhere to produce that currency, aside from the paper, ink, etc., (which it pays for in dollars) or a computer system to create the electronic version (the lion's share of USD today). The only obligation it incurs from creating those dollars is a liability against it's own Federal taxes. If it creates and spends too many dollars, then we will have consumer-driven inflation. Too few and we will have recession and unemployment. The BBA is nonsense, based in a belief that the Federal Gov't needs to fund itself via Federal taxes and that the finances of the Gov't are like the finances of a household. Neutralize this basic error and the remainder of the agenda of those pushing the con-con will have to stand on it's own legs, unsupported by the "balanced budget" fraud.