The Federal Reserve is actually owned by the largest banks. The idea I had was “free ride over, bud”. The government bonds owned by the banks are immediately transferred to our countries social security recipients and the banks get to amortize that transfer of capital over the course of 10-20 years. The people getting social security get the PV of their monthly payments in bonds and can either sell a percentage of them every year or live off the interest or a combination. That takes a huge chunk out of the national debt right there.
In order to live off the interest of the bonds a socsec recipient would need a million dollars in bonds to have 30,000 to live off of.
I like trying new ideas though. We need them.