Gary Goodman
Gary Goodman

To the White House:

Letter to Obama White House:

Here's one way to get rid of the Debt.

a) Congress changes rules requiring the Treasury to issue T-Bills, in relation to deficit spending.

b) Congress tells the Treasury to stop issuing T-Bills.

c) Existing T-Bills expire. That is, the account balances in US Securities accounts @ the Fed rolls over back to the form of US Dollars in Reserves accounts @ the Fed.

d) Entities that WANT to purchase new T-securities will be told "No." They...

To the White House:

Letter to Obama White House:

Here's one way to get rid of the Debt.

a) Congress changes rules requiring the Treasury to issue T-Bills, in relation to deficit spending.

b) Congress tells the Treasury to stop issuing T-Bills.

c) Existing T-Bills expire. That is, the account balances in US Securities accounts @ the Fed rolls over back to the form of US Dollars in Reserves accounts @ the Fed.

d) Entities that WANT to purchase new T-securities will be told "No." They will be out of luck. Their surplus US Dollars will have to be parked at the Fed, as Reserves (checking) where these Dollars will no longer constitute "Govt Debt".

e) Month-by-month, the National Debt will melt away to nothing.

f) For monetary policy, hitting interest rate *targets*, the Fed will have to adjust policies by paying more interest on Reserves.

f2) When interest is paid by the Fed instead of Treasury, that does not count as a "Fiscal" issue regarding Congress or Deficits.

g) Problem solved. Go have a drink.

a2) Alternately, Congress permits the Treasury to issue T-Bills and sell those directly to the Fed, which pays all net profits back to Treasury, instead of selling T-bills to middleman Primary Dealers.

Note, Primary Dealers are those "zombie" banks currently kept in life support by the Fed's various rescue packages, after TARP. Currently, PD banks thrive by borrowing money from the Govt (Fed) to loan money to the Govt (Treasury).

Explain that how? How is Uncle Sam "in debt" to banks that must borrow from Uncle Sam just to stay alive? (Rhetorical question)

a3) This is same answer as "Trillion Dollar Coin" but without all the flash and mystery. Just have Congress ELIMINATE it's own stupid laws and rules.

Nixon abolished the Gold/FOREX fixed exchange 40 years ago. Nixon set it up so Federal spending is no longer reliant on Federal taxes, and he eliminated all issues with "budget deficits" then and now and forever.

Jorge Vicéns
Jorge Vicéns

Taking a break seems counter productive, but it isn't... the more they DO the more they SPEND, that's all they know how to do. I say take more breaks... in fact take a few years off!

Janice Hutchinson Jemison

Fix the budget but reducing their pay and we will have enough money. MAKE THEM PAY FOR THEIR CHILDREN EDUGATION INSTEAD OF FREE. OUR TAXES PAY FOR THAT. DO THE RIGHT THING FOR US THAT PAY YOU TO DO A JOB. You can be replaced.

Dee DeMuth
Dee DeMuth

If we performed like that, in our jobs, we'd be FIRED!

Kathleen Bown
Kathleen Bown

And they can take a tax payer trip around the world on our money when we a working our butts off to pay the wages.

Dee Ruas
Dee Ruas

I'm disabled but work in some capacity even if it's just to volunteer in my community to make it better! I've had Systemic Lupus and other physical illnesses disfor over 17 yrs and have Bi polar disorder. If. I make it my business to do my part and have worked my whole life whenever possible proudly what is the reason for Congress and the House not to ? Be real! Do your jobs! Do them with pride! Be good examples! At least do what you would expect any American Worker to do! !!! Help fix the problem! Be part of the solution !

Mark Morgan
Mark Morgan

We need to fire our government.

Diana Smith Thompson
Diana Smith Thompson

Let's stand up folks, they are supose to listen to us.

Let's do it folks, they are supose to listen to us, love you folks.

Dawn Rae VanDyke
Dawn Rae VanDyke

By the way-animals were created to DEFEND THEMSELVES any animal backed into a corner WILL FIGHT this was given to them by God how much more so we as humans have an inalienable RIGHT to defend OURSELVES against ones who mean us harm
(murder) that is what the constitution guarantees it guarantees it
over all the deaths in the past to make it so. Now here we have a president who wants to rip our rights all away yet HIS family have protection up the ying yang......what a total...

By the way-animals were created to DEFEND THEMSELVES any animal backed into a corner WILL FIGHT this was given to them by God how much more so we as humans have an inalienable RIGHT to defend OURSELVES against ones who mean us harm
(murder) that is what the constitution guarantees it guarantees it
over all the deaths in the past to make it so. Now here we have a president who wants to rip our rights all away yet HIS family have protection up the ying yang......what a total hypocrite....Jesus simple words "DO UNTO OTHERS AS YOU WOULD WANT DONE
INTO YOU"....

Dawn Rae VanDyke
Dawn Rae VanDyke

This administration don't look at it this way because they are hardened & selfish.....when they do not work for the pay they get it's called THEIVERY, when they LIE which is when they have their mouths open it is detestable.......I do not trust any of them in
office. Liberals voted them all their & when our whole USA is GONE I won't feel a dang bit sorry for ANY OF THEM because they are the ones who put them IN & they are the ones who brought this down on everybody.....the bible is a...

This administration don't look at it this way because they are hardened & selfish.....when they do not work for the pay they get it's called THEIVERY, when they LIE which is when they have their mouths open it is detestable.......I do not trust any of them in
office. Liberals voted them all their & when our whole USA is GONE I won't feel a dang bit sorry for ANY OF THEM because they are the ones who put them IN & they are the ones who brought this down on everybody.....the bible is a CONSERVATIVE BOOK - thieves, liars, etc. etc. murderers WILL NOT INHERIT GOD'S KINGDOM........they are fooling themselves with their hardened hearts & they have there glory NOW but NOT in the life of that which is to come.

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