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
- Virginia House Passes Bill That Sets Foundation to Ban Facial Recognition Surveillance - January 21, 2021
- New Hampshire Bill Would Opt State Out of Federal Asset Forfeiture Program - January 21, 2021
- Oregon Bill Would Limit State Participation in Federal Police Militarization Programs - January 21, 2021