I've read a lot of fear mongering unadultrated BS, but none as long winded as this one. It is not only inaccurate and misinformed, but it is too tiresome for anyone with a smattering of common sense to read all the way through, which I am proud to say I didn't. However, I will say that if this is the level of cognizent thought the average voter uses to interpret our economy then we are indeed in a heap of trouble.
Firstly, the US dollar is not something that our government ever has to "find" to pay its bills. It creates them as needed and is never reliant upon revenue when it does so. Treasury bonds are a feature available to reward thrift, not a funding mechanism for government's spending. Ditto for taxes, but at least taxation offers some level of utility in that it drives the demand for the nation's currency in the private sector and can control the overall net money supply, which is the national debt. (The word you don't understand but manages to light your hair on fire anyway.)
The government's red ink is the only source of net black ink the non-government sectors have. Without it, you have no savings or ability to net retire your personal or business debt. You can't roll over private bank debt endlessly and you'd fall short by the interest payment even if you could without some source of superior (high power) money.
Where, exactly, do you believe the dollars needed to purchase bonds or pay taxes come from? Is there some magic cave high in the mountains where the currencies of the various governments are kept? Our Congress has had the power to create our currency "for our common defense and welfare" since we declared our independence from the Crown. (Article 1: Section 8 of the Constitution) It always has an infinite number of US dollars, even without revenue (an oxymoron for regular morons).
There is no "infinite+1" in math or accounting that would enhance the government's ability to spend its own currency into existence via collecting or borrowing that currency back from the private sector. Take a deep breath and remove the tin foil hat. It is evidently too tight anyway. The gold standard went the way of the dodo bird, as it should have, long before Nixon made it official and the monopoly issuer of our currency can "afford" anything that is for sale and denominated in the currency it creates at will.
