Federal Fiscal Deficits

President Reid will eliminate state and federal fiscal deficits and debts.

Federal deficits are a drain on the vitality of the US economy, and cause inflation robbing workers of the value of their wages, savings and pensions. The deficits add to the national debt of course which increases the interest payments due on the national debt.

It is quite normal for governments using fiat currencies to run up deficits to buy votes, run government operations, to support military operations, to support society building infrastructure among many other things.

Politicians, Libertarians and angry tea partiers who think the income tax is too high and bleeding hearts who think the government is not spending enough to support the people will again balance the political pendulum.

This is all very normal and typical throughout history. There is nothing new about governments running up deficits using fiat currencies. Beyond running up deficits which zaps economic vitality of a country, the deficits can accumulate overtime leading to a gross level of national debt that at some point in time becomes unmanageable leading to the collapse of the currency causing monetary, economic and societal catastrophe, chaos and ruin.

At 130% of debt to GDP, the United States has crossed the 125% historical ratio when collapse of the currency becomes imminent and inevitable and there is no turning back sucked into a black hole. To protect the American people from catastrophe, chaos and ruin, we must act as soon as practicable. I would be honored to serve as President to avoid catastrophe in the United States of America.