[Zhang Fei]

[I think after this the US will have to write off some debt.]

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The classic way of paying for things like this is inflation. No special measures needed. Basically the same thing that’s been happening since the founding of the Republic (and of every regime, past, present and undoubtedly future in the existence of mankind). As long as the fiscal measures are moderate, the only effect we’ll see is a slight bump in prices going forward on top of the usual increase.

If Charlotte Bronte is to be regarded as an authority on the prevailing wages of her era, there was a time when £20 was a respectable annual income for a governess who was provided room and board. Today, £20 is less than 3 hours of the British minimum wage. The difference is just under 200 years of inflation.

[Fai Mao]

“The classic way of paying for things like this is inflation.”

This is my argument to blacks why reparations won’t work. If we paid them all $1,000,000 in 6 months gasoline would cost $1000.00 a gallon and they’d be no better off.

[LostInBayport]

Thank you for that post. I often read these threads and often hope for some practicality among the hyperbole. I’m not the most financially literate person by any means, but what you posited seems like common sense. It will be rough for folks on fixed incomes, but those of us still working and living beneath our means may still muddle through.

[Jagermonster]

At the current price of silver, that 20 pounds sterling is about $9000 a year. I don’t know if in Bronte’s time, a pound sterling’s value was actually 1 pound of sterling silver. I know that at one point in history, it was.