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Let’s Abolish Government Debt on Feed 44

Saturday, July 11, 2015 22:17
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C4SS Feed 44 presents Erick Vasconcelos‘s “Let’s Abolish Government Debt” read by Erick Vasconcelos and edited by Nick Ford.

It’s a radical idea, but debt should be abolished. Today. Over time, it not only morphed into a system that generates increasing debt and that channels money from the individuals to banks’ and capitalists’ pockets, but government debt also became more shameless. If governments used to issue “war bonds” when they wanted to bomb someone, nowadays that isn’t even needed. Governments are able to issue unlimited debt for whatever reason.

Debt is unquestionable. It’s sacred. We should always find a way to pay it, or at least part of it. Economists speak of fiscal adjustments. They fear that shouldn’t the government pay up, it won’t be able to finance itself in the future. That clearly isn’t a bug; it’s a feature. Government shouldn’t be able to finance itself anyway.

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