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
- New Mexico House Passes Bill to Legalize Marijuana Despite Federal Prohibition - March 1, 2021
- Montana House Passes Bill that Sets Foundation to End Federal Gun Control Enforcement - March 1, 2021
- Maryland Senate Committee Passes Bill to Limit State Participation in Federal Police Militarization Programs - March 1, 2021