The whole national debt is 13 trillion. What is the current money supply? I think it is considerably less.
Not all the debt is held by Americans.
Most is held by banks and insurance companies for a reason.
Does this propose to forcibly extinguish the debt?
“The whole national debt is 13 trillion. What is the current money supply? I think it is considerably less.”
More like 14.5 trillion now.
“Not all the debt is held by Americans.”
It doesn’t matter. All we would be doing is exchanging money we’re paying interest on for debt-free money.
“Most is held by banks and insurance companies for a reason.”
It doesn’t matter, everyone will get the same money they have now.
“Does this propose to forcibly extinguish the debt?”
Yes. The debt and the $400 billion per year we pay on it in interest will both go away.