Buying Back America’s Independence

Buying Back America’s Future
By: Joy Lynn Smith

It is easy in these times of economic uncertainty to find nothing but doom and gloom on the horizon for America’s struggling economy, however, I have a small idea that given some momentum and a little fore thought could well set us on our way to permanent national recovery. Not the national recovery of a few short months or years with the heavy downswing that inevitably follows such fortuitous change but the actual stable steady climb and recovery of the United States economy and the permanent recovery to the value of the United States dollar.
Here is how it works. The population of the United States as of the 2000 census was almost 300 million, estimated in 2008 at 303 million. If each person paid $2 dollars a month to a fund that would be directly paid on the principal of the United States National Debt (never to be handled by a politician and the person in charge of donations will never be paid for the services rendered) at the Federal Reserve Bank we could pay a total of $7.2 billion dollars per year towards the principal of the national debt. For the average household of four people that is a measly $8 dollars a month or $96 dollars a year, less than the average cable bill a month for an American household.
I hear doubters already spouting off on how that is not a drop in the bucket compared to our debt but “here is the rest of the story” to quote Paul Harvey. Look at the national debt, which is (rounded up for convenience since this article will take time to circulate) $13 trillion dollars and multiply that by the National Interest Paid which is 20% or $2.6 trillion dollars a year. Now take the $7.2 billion we could deduct from that principal balance and multiply that by the annual percentage rate and you get a total of $1.4 billion dollars saved in interest per year.
Again the doubters are yelling loudly this is nothing. However, the shear relief of that much interest payment for a year could well shore up the failing economy and will start the recovery process for the value of the American dollar. Then the true government the American public will put before our congress the requirements of their employment as public servants to their government . These requirements will include that they will continue to pay on the interest owed on the debt since that is all they can manage to figure out. They will freeze their salaries and benefit increases as many of the American public has already had to do. They will be required to pay for their own lunches or brown bag it as the American public has to do. If they have business trips they must itemize and account for every penny they write off as a business expense and report it to the IRS just as the American public has to do. They will post publicly itemized statements of every dollar spent that they have been entrusted with monthly (written in plain English with easily interpreted spreadsheets to show each penny so every American can easily understand). They will be required as servants of the American public to donate to the fund that is paying down the principal owed for the national debt. Then we will require that the savings on the interest for each year be applied to the principal balance of the national debt it will not be allocated to more government spending or shoring up businesses that are financially irresponsible.
Furthermore, all donations to the national debt will be tax deductible. This will encourage U.S. businesses that have been moving their factories and business overseas two ways to improve their lot in the American business landscape. They will be able to see their dollar increase its value both nationally and internationally and the more they donate to the cause of American independence from the Federal Reserve Bank the larger their tax credit for a year.
Further requirements will be added to the list of things to ensure the continued strength and recovery of the American financial outlook. First all people residing in the U.S. will be required to bank at banks owned and operated in the U.S. Secondly the congress and president will no longer be able to deficit spend. If they cannot pay the bills they will learn to do as we all do, live on what you make. Thirdly we will stop the sending of our soldiers to foreign nations to help them rebuild from their disasters and personal wars or settle their internal disputes. Instead we will use the money saved to use our good old American ingenuity to figure out how to no longer need oil for fueling our transportation of people and goods.
We will require that we only send our soldiers to nations which attack us first. Given that nearly every real upstanding second amendment right advocate in America is well armed and willing to shoot an invader that chance is slim. The savings in expenditure alone for supporting troops throughout the world will allow us to pay our soldiers an actual living wage and still leave more money to apply to the principal on the national debt. We are the big bad American’s that no one appreciates anyway so its time we just focus on taking care of ourselves. Bring our men and women home to guard our borders. Boot every illegal alien out of the country and make them apply for citizenship and the right to use our public money. Guard our own borders as all other countries in this world do and keep out anyone unwilling to go through the naturalization process that will make them tax paying and law abiding citizens.
With just the donations of $2 dollars per person and the additional payment of the savings on interest added to the amount paid on the national debts principal each year we could pay down the principal by more than $8.7 billion per year. This does not add all the money we could require congress to add to the principal payment each year with the savings we get from other ideas I have mentioned. While $8.7 billion doesn’t seem like a lot in comparison to $13 trillion dollars of current national debt the accumulated savings over the course of 14 years would be $122.3 billion dollars. This figure is reached by taking the annual donation of $2 dollars per person per month (303 million people) which adds up to $7.2 billion per year plus the interest saved by paying that $7.2 billion (that is 20% times $7.2 billion) which is $1.4 billion subtracted annually from the national debt. That figure alone would increase the value and buying power of the American dollar rapidly.
With the tax incentives for donations toward the principal of the national debt implemented for large and small business owners the snowball effect, and the resulting depletion of our national debt, would begin to unravel the mess our lackadaisical approach to monitoring our public servants has thrown us into. We the people of the United States of America need to start now buying back the freedom and independence of our country from the reliance on foreign investors and do it before our children have been sold into permanent slavery.

Cc: Glen Beck, Fox News
Mike Huckabee, Fox News
Rush Limbaugh
New York Times
Denver Post
Mark Levin
Sean Hannity

Published in: on March 5, 2010 at 7:07 am  Leave a Comment