Libertarian candidate for Senate says national debt is biggest threat facing U.S. today

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[–]magnora7 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

But it's literally unrepayable, by design. In a debt based system like ours, every dollar created immediately has $1.01 of debt attached to it. The whole thing is unpayable.

It's a system of ownership. It's more powerful than the government.

[–]voter[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Maybe the debt will be paid off by illegal immigrants, technology, a zero percent tax rate, or magic fairy dust, but the reality is that the US debt is increasing constantly, no one cares, and spending more money to reduce the debt will only lead to disaster.

Debt didn’t work out too well for Rome, Germany, Japan, Greece, or Zimbabwe.

Those who fail to learn from history are doomed to repeat it.