The Solution to the Nation's Growing Deficit: Destroy All Wealth

By now, everybody has seen we cannot cut government programs to cut spending. The leaders don't even give the idea lip service, perhaps because of an us and them mentality: Government workers protect their own. We can't raise taxes too much longer, we would soon reach a tipping point where it is better not to work than work. And we can't have inflation to shrink the size of these programs: The government workers get cost of living increases, so their costs rise in lockstep with inflation.

There is only one solution left. Spend more than we take in, build a huge deficit. Then introduce runaway inflation later after the income was earned and before cost of living increases kicked in. Inflation will devalue the deficit, making it be paid with cheaper dollars. Easy money. No difficult votes.

Here's an example. You have 100% inflation. Everybody's wages double but so to the prices of goods. Everybody's taxes double too (assuming a fair tax rate). This means the deficit is halved in constant dollars.

A policy of continual inflationary doublings will erase any size deficit. The problem is that it also erases personal wealth, savings and retirement plans. The idea that we can plan for our own retirement is put into question as any amount of personal wealth is eventually erased. And it again makes us dependent on government retirement support, such as social security, which has its own problems.