A way to pay-off the national debt. It's good to know that we are not really broke.

Published on: 4/16/2011

So we're not broke.


I understand that if we could manage to balance our national budget for the next decade, without adding more to our national debt, that if we had an extra trillion per year coming from somewhere, that we could probably pay-off as much as about half our debt within 10 years.



Where is the trillion coming from. That's the biggest problem. However, if we could do this, we probably wouldn't have to worry about Social Security, Medicare and Medicaid, except for some adjustments here and there over the next 25 to 50 years.


Recession at the present time is another thing which requires separate attention and other writings.


Therefore, I'm making a proposal that we establish our income tax system pretty much as it was under Presidents Reagan and Clinton, not many complained then. This requires making one more adjustment to our religious-like economic point of view. But the revenue will enable us to work toward a balanced budget.


The second part of the proposal relates to giving a special focus to the whole energy situation as it affects our whole way of living in the United States.


My suggestion is that the national government retain and acquire, exploration, development, refinement and distribution rights over all our common natural energy resources such as: oil, natural gas, coal, agricultural energy products, certain fibers and other common energy resources.


The financial benefits coming fromf these enterprises then need to be determined and directed on a contractual basis. The revenue that results should be directly utilized to pay-down the national debt and contribute to the improvement of public infrastructure. There you have it. Simple enough. 


(This will probably be among the last writings, if not the last focused on energy as a common resource).