The Toxic Debt Burden

                       

How will we ever surmount the extraordinary U.S. debt? Despite what the politicians say and the Federal Reserve attempts to reassure us, there is probably only one way governments resolve it. Inflation. Governments inflate themselves out of the debt.

                       

Jobs and a booming economy can produce tax revenues without increasing tax rates. But I’m talking 7% to 10% GDP growth, not our usual 2%.

                       

You cannot tax yourself out of debt. It has never been done before. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)