Our problem is neither debt nor deficit but, more exactly, high debt interest expense plus chronic unemployment, crumbling infrastructure, potential inflation, and near-zero interest rates.
The cure:
1. To shrink the debt interest expense, stop auctioning bonds to finance budget deficits. This scam has redistributed trillions of dollars from middle class taxpayers to rich bond-holders.
2. Instead, do as Lincoln and FDR and leaders of every other great nation did in their wartime crises, always followed by postwar prosperity: print the money! Two of our greatest inventors and most conservative business men, Henry Ford and Thomas Edison, believed that government should create debt-free money for public projects. http://prosperityuk.com/2000/09/thomas-edison-on-government-created-debt-free-money/
3. To end unemployment, spend the printed money heavily on much-needed infrastructure. (World War II unemployment rate was under 1 %.)
4. When unemployed labor becomes scarce, delay the infrastructure projects and raise interest rates to prevent harmful inflation and maintain permanent prosperity.
No more problems! Wasn’t that easy? If you agree, copy this response and make it yours!
Google: Economics Faculty, UMKC; NewEconomicPerspectives.org