Your Questions About Debt-free America

David asks…

Why doesn’t America print its own debt free money?

The federal reserve is an privately owned bank. The federal reserve prints our country’s money, right. The money is based on nothing, not gold not silver seen 1933. So there for money our money an illusion, and our money is created on debt. Why doesn’t our congress only the treasury print our own debt free money. We could use that money to pay off the debt, which will never will. Down with the federal reserve.

John answers:

Actually treasury does print the money, but the money supply is controlled by the Federal Reserve Board. The Board is NOT a private enterprise. It’s members are appointed by the President and confirmed by the Senate, its power is limited by act of Congress, net revenues are returned to Treasury and it is audited by the GAO.
The primary responsibility of the Fed is to control inflation – something that would be out of control under your solution of just printing whatever we need to get out of debt.

Helen asks…

Did you know during the Jackson years America was debt free? It was set in motion by Monroe’s administration.?

And the plan to pay off the debt didn’t include adding more debt or trying to stimulate the economy.
Have you ever heard “History is doomed to repeat itself”?

Just because it was 170 years ago doesn’t mean that it’s not a viable option now. Cutting spending will naturally help pay off our debt.

John answers:

Those Revolutionary guys…had their game down.

Nancy asks…

If everyone in America became debt free, and stayed that way, would the economy thrive or dive?

John answers:

It would dive in the short term, because people would be buying less until the economy hits an equilibrium. In the long run the economy would be stronger, but economy would grow slower.

Mark asks…

??? When it comes to paying your Bills how does Russia stack up against America, are they debt free or like us?

Bush borrowed more money than anyone in the history of human civilization.

Now we are stuck with paying. Do we suck it up bite the bullet and pay … or let the Vampire International Banks suck us dry.

John answers:

Doesnt matter – russia has aggressively persued oil globally. We have pissed it away primarily through urging from the left.

You know the oil rule:
oil is gold, he who has the oil makes the rules

Susan asks…

The Debt-free plan account from bank of america?

Does anybody have a Debt-free plan account from bank of america? How does it show up on the Credit REport? anyone?

John answers:

I don’t have a Debt-Free plan account from Bank of America, however, the account is actually a credit line through the bank, and will appear on your credit report as such.

Powered by Yahoo! Answers

This entry was posted in Uncategorized. Bookmark the permalink.

One Response to Your Questions About Debt-free America

  1. Pingback: Your Questions About Debt-free America | Google Home Loan & Debt | Debt Free In 3 Months

Comments are closed.