Long-Term Solution:
1) Get rid of the current fiat monetary system and replace it with a monetary system based on the gold standard.
2) Stop increasing the national debt. With a gold standard-based monetary system, huge budget deficits are very difficult to run. The basic reason why the U.S. government has been able to run ginormous budget deficits in the 21st century is because the last link of the U.S. dollar to gold was severed in 1971.
"Inflation eased to 6.5% in December compared with 12 months earlier, the government said Thursday. It was the sixth straight year-over-year slowdown. On a monthly basis, prices actually slipped 0.1% from November to December, the first such drop since May 2020.
The softer readings add to growing signs that the worst inflation bout in four decades is gradually waning. Still, the Fed doesn’t expect inflation to slow enough to get close to its 2% target until well into 2024. The central bank is expected to raise its benchmark rate by at least a quarter-point when it next meets at the end of this month."
- rest at US inflation eased again to 6.5% over the past 12 months | AP News
US inflation eased again to 6.5% over the past 12 months
Discussion in 'Money Talk$' started by KenH, Jan 12, 2023.
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According to this "clock" - the national Debt is increasing at about 10 billion dollars a month.
What would you propose to be cut? -
I would have to examine the entire budget in order to do so. Simply restricting the federal government to only its enumerated powers in the U.S. Constitution would be an excellent starting point.