Description

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America is needlessly worried about “national debt,” believing it can no longer do the many things that mark it as a great nation. Discussions of national undertakings including infrastructure repair, jobs programs, and military modernization - have all been stifled through fear of insolvency. America has convinced itself that it can no longer afford, as a nation, to do many of the productive things that it has done so well over its history. That's a great shame, because America remains a nation of tremendous resources in every sense, and the underlying assumptions about U.S. government financial instruments are not correct.  America can never face the debt problems of nations like Greece, thanks to its fundamentally different financial system. This short book analyses the modern U.S. financial system in new ways, and explains why such fears should not hold back America, and why even the expression “national debt” is neither meaningful nor appropriate for the United States.