All I mean is that if we had a balanced budget and taxes based on consumption with no income tax or some type of flat tax then we would take away the punch bowl from the politicians who spend money to get votes.
Having a balanced budget would be the same as have a gold standard in some ways because you could only expand the budget based on economic activity and not just to pander to the masses. With a balanced budget you would have no reason for the government to borrow money. Borrowing money is the transaction that prints money. You can’t create money without creating debt.
I guess I am saying its not the fiat currency system its the politicians who take advantage of it and they only take advantage of it because it works for them. There are no restraints to how much debt they can pile on because we don’t require a balanced budget.
