In fiscal 2020, the U.S. government ran a $3.1 trillion budget deficit. And the Federal Reserve monetized nearly that entire amount.
Without the Fed, the U.S. government wouldn’t be able to borrow and spend at this extraordinary rate. This is precisely why we need sound money.
For Further Reading
Fed Shifts Inflation Policy to Steal More of Your Wealth
The Federal Reserve: The Engine that Drives the Powerful Government in History
Trump 2020 Deficit More Than Doubles Obama’s Previous Record
Michael Maharrey [send him email] is the Communications Director for the Tenth Amendment Center. He is from the original home of the Principles of '98 - Kentucky and currently resides in northern Florida. See his blog archive here and his article archive here.He is the author of the book, Our Last Hope: Rediscovering the Lost Path to Liberty., and Constitution Owner's Manual. You can visit his personal website at MichaelMaharrey.com and like him on Facebook HERE
Latest posts by Mike Maharrey (see all)
- Signed as Law: New Jersey Repeals Sales Taxes on Gold and Silver - September 12, 2024
- Veto Override: North Carolina Takes First Step Against a Potential CBDC - September 10, 2024
- To the Governor: California Bills Would Legalize Cannabis Cafes and Sales at Farmer’s Markets - August 30, 2024