The fiscal cliff distraction
Ending the Debt without Cutting Spending or Raising Taxes
Presentation by Jamie Walton --Monetary Researcher, American Monetary Institute (AMI)
While Congress and media pundits discuss and debate ways to reduce our national debt through spending and taxes policies while protecting social programs and earned entitlement programs like Social Security and Medicare, few in DC are proposing a profound way to eliminate our federal debt altogether — by We the People taking back control from banks the ability to issue and circulate our own money. This is by "democratizing our "monetary policy." A specific bill, H.R. 2990, was introduced earlier this year, the National Emergency Employment Defense (NEED) Act. It would eliminate the debt through creating debt-free U.S. money (compared to most money, which is created by banks via loans, or debt, which must be repaid with interest). The proposed legislation would create 7 million jobs repairing our nation's basic infrastructure. Mr. Walton and the AMI have been major initiators and promoters of H.R. 2990. Democratizing our monetary policy, as Mr. Walton will discuss, avoids any need to cut spending or raise taxes — with much better economic and social justice results, including ending our nation's federal debt.
Sponsored by the Northeast Ohio American Friends Service Committee, Monetary Literacy Group