Opinion

Letter: On creating money

Posted March 21, 2022 1:00 am

The creating of new money out of nothing, combined with our increasing national debt may eventually backfire on us. However, there are steps which the federal government can take now:

It might use the new money to find out how to make industry more productive. Whether or not this is possible with the current money, we can always create still more.

Further, we should create $5 trillion new dollars to issue to the people. Fifty thousand dollars should be the minimum to be paid to each household (or small business), up to the couple most recent annual taxes. (Half would be for debt and half would be for spending any way they like.) The probable jump in inflation will most likely be worth it.

We should advise the Federal Reserve and Congress of both these ideas.

John Hartley

Arlington Heights

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