On The National Debt: Is Trump Telling the Truth?

On Monday, CNN ran a story with the headline: “Trump: U.S. will never default 'because you print the money'” which raised some eyebrows. The general public, trained by mainstream “economists”, the media and politicians had a freak-out moment, claiming that Trump is nuts. Firstly, because the general public thinks that the national debt is an actual debt and secondly, the general public thinks that “printing money” is something the federal government does and that something will lead to hyperinflation. Among the populace who understands how the monetary system works, eyebrows were raised for a different reason: It’s unusual hearing any politician say something that is true. Well, sort of true. 

Can The US Government Default on the National Debt?

Today, I’m going to take a different tact to address this question. Let’s assume that there is a rich guy who buys $1 million in US Treasury bonds. Hey, fantastic. I’m sure that you're thrilled that he can afford such a purchase while millions struggle. No biggie. That’s just life in America, right? Some people have loads of money to loan the federal government and others, well, they’re just lazy or something. I guess this guy is just more productive and responsible than most people. You see, he’s a “go-getter”; a real visionary that worked hard, played by the rules and went out and made something of himself while others slept in, played video games and now ask for hand outs. You too could have what he has if only you’d pull yourself up by your bootstraps and get some responsibility in your life. Stop being lazy. Hey, that’s life in America.

Debunking The US National Debt Hysteria

That thing out there that's at $18 trillion and rising; that thing that will be a future burden on our grandchildren; that thing that will bring the US government to financial collapse; that thing we are told to fear by the media, politicians and Occupy Democrats memes; that thing that liberals and conservatives accuse each others’ presidents of increasing; that thing, much like the monster hiding under your bed at night, doesn't exist. I am going to state the following for the umpteenth time:

The US National Debt is not a real debt and so, it does not exist.