An easy tool to understand US households’ share of this tragic-comedy:
- ~100 million US households means an average ~$170,000 debt/household.
- Another way: ~$50,000 average annual household income means a household with $100,000/year income owes ~$350,000, and etc.
The good news is this problem exists only on paper. The mechanics of running a government debt-free was solved almost 300 years ago with Benjamin Franklin’s publication how the colony of Pennsylvania operated without taxes.
The great news is our solutions are obvious and easy to understand. Concise explanation with documentation:
- Monetary reform: the US doesn’t have a money supply, but its Orwellian opposite of a “debt supply.” Banks and the Fed create what we use for money as debts, then charge the 99% interest for its use. Monetary reform has government transparency (I know, I know, that’s unimaginable without total Occupy victory) to create debt-free money for direct payment of public goods and services. This has game-changing triple benefits of full-employment as government becomes the employer of last resort, optimal infrastructure, and falling prices because infrastructure contribute more to productivity than cost. Documentation here, here, here. The American Monetary Institute is a leader for monetary reform.
- Credit reform: Public credit is at-cost, as opposed to what we have today with predatory cartel 1% for-profit credit. For example, public credit could pay all state and local taxes with a 2% mortgage and 2% credit card. It could also release literal trillions locked in government “rainy day” funds with lines of at-cost credit. The Public Banking Institute is a leading group for this reform.
- CAFR audit, reform: So-called “pension” and “rainy day” accounts are tragic-comic in non-disclosure and non-performance for budget, infrastructure, and pension funding. For example, Californians have $8 trillion in surplus assets withheld by government in this current structure that 1% “leaders” claim requires our austerity (yes, that’s about $650,000 per household). Walter Burien and Clint Richardson are leaders.
As great as these breakthroughs are, resource-based economics is our predictable future just beyond these three obvious reforms.
Americans and humanity are just “emperor has no clothes” obvious declarations away from freedom. Most of the 1% criminals will be revealed when the 99% end their wars and debt that kill millions, harm billions, and loot trillions that would make Earth successful for 100% of its inhabitants.
Unleash your beautiful, powerful, and unique self-expressions to discover and realize the future you’ve always wanted to have.
Note: the above is the complete article. To satisfy Google search requirements of Daily Censored, I’ve added additional content. The reason for this is a mathematical percentage of unique content to DC when articles are published at the same time in different websites. So, the extra content:
CAFR resource book: Govt 1% lie, hide surplus trillions from 99%
This 83-page resource documents that government Comprehensive Annual Financial Reports (CAFR) show taxpayers have trillions of dollars in surplus accounts.
Although California is highlighted, similar facts exist for every state.
The importance of this information is that trillions of surplus taxpayer dollars in California thoroughly refute government claims of “forced austerity” from a $16 billion budget deficit. This means that all state programs could be abundantly funded.
Importantly, massive government fraud is proved by comparing official rhetoric to CAFR data. The central government claim is that investment funds pay for retirement costs of public employees. CAFR data show California’s 2011 $27 billion retirement cost received only $1 billion net from a total of $600 billion in state surplus assets (pages 3-6). In fact, the Wall Street “investors” receive more than retirees’ net $1 billion.
This is prima facie criminal fraud from lies of omission and commission to the public in their “budget crisis” rhetoric in light of these collective trillions in surplus taxpayer dollars. Government officials have legal fiduciary responsibility for complete and accurate financial information communicated to taxpayers.