... how the present system is not tied to any fixed measure that allows a reasonable growth in the Nation’s “wealth” based upon its productive output.
In addition, he fails to make the point that such a system is un-Constitutional, and that it gives politicians essentially an endless supply of “free” money with which to fund their entitlement programs that keep them in power. The system robs “wealth” from the Nation, instead of acting as a measure of the true wealth of the Nation.
Calvin Cooledge said it is easy to understand why politicians spend money. There seems to be plenty of it laying around and it doesn't seem to belong to anyone.
However, the accounting method seems to be intentionally Orwellian. Yet, it is the common accounting procedure for banks, too. Money they have on hand is considered a liability and money they have loaned out is considered an asset.
I’m hoping others will continue to realize what you write... This “sham” has robbed our Nation of its true wealth, and will continue until we can no longer fight unless something is done - stat!