My economic plan is simple: have the government print $10 trillion. Then give $10,000 to every household in America.
I am quite serious.
Yes there will be some inflation as a one-time effect, but the effect will be more than cancelled out by the $10,000 check.
Yes the dollar will depreciate compared to other currencies. This will act as a 'tariff' to incentivize people to spend their money on American-made things.
Some people will see this plan as 'irresponsible.' I disagree.
The so-called 'responsible' people have been in charge for a long time and they have brought us to this point.
This plan will allow Americans to reduce their debt.
It will allow Americans to spend more, and stimulate aggregate demand, thus hiring.
Every dollar spent will have a 'multiplier' effect.
The cost of this plan to the notional value of the national debt is zilch. The increase to the notional deficit is zilch.
Debt is the problem.
This plan does not increase debt; it decreases debt.
I'd like to get people's input on this plan.