Did you know the Federal Budget has not been balanced since abandoning the Gold Standard ?

Question

And here's why !
http://www.apfn.org/apfn/reserve.htm

Answer 1

Interesting

Answer 2

The federal budget was last balanced by Herbert Hoover. It got the US ten years of depression, followed by 4 years of war.
The budget is not balanced when Congress spends more money than the government brings in, in taxes. If it is important to you that the budget be balanced, it up with your Senators and Representative.

Answer 3

Abandoning the gold standard helped the economy grow...but that is a long-winded topic for a thread in Economics.

I concur--if you control spending then balancing the budget isn't that that difficult.

Answer 4

Well, its not like we could go back to the gold standard today.

There is just not enough gold in the world, to back the US economy alone, much less the rest of the world.

It's estimated that 110,000 tonnes of gold have been mined in human history, at todays street value,

Thats only a little over 2 trillion dollars worth.

Answer 5

All you'd have to do is freeze the growth rate of discretionary spending. If you froze it at 3.5%, which is still 100 bps higher than CPI, you'd have a surplus within 18 months. Tax revenue is growing at 11%.

Answer 6

Yes, I did. That is why I think our government should look at eliminating most of the foreign aid. Most of those countries hate us anyway. Let them go to France, Germany, and other countries for the aid we give them now. That is money that can be used for other purposes here. Let's stop those foreign countries from sucking the U.S. government teat.

Answer 7

That is actually fairly well known.

Answer 8

Doesn't suprise me