With the U.S national debt currently sitting a little above 23 trillion, there is still a lot of debate about how we got here and whether or not this accumulation is sustainable. Most people in Congress responsible for the matter see it as a problem, stating that “we don’t have the money to pay back our debts.” Though their instincts are admirable, their rational is based off the false idea that taxes fund government spending in our current economic-political enterprise. When governments issue a sovereign currency, backed by nothing, they will always be able to pay their bills, even if their...
