The deficit will worsen so long as the country ONLY thinks in terms of one-factor labor worker employment and does not harness technological opportunity for advanced superautomated factories, robotics and computerized operations to constantly make for more and more efficient production of products and services. At the same time, it is imperative that capital credit mechanisms be used to finance this growth while simultaneously broadening ownership of the new productive capital that will be doing the bulk of the actual “work.” Otherwise, deficits will continue to grow to redistribute income in the form of make-work, military boondoggles, and welfare support to ensure there is money circulating in the “system” to purchase what is produced. With significant broadened private, individual ownership of new productive capital the economy will grow dramatically and the tax revenues will significantly increase to retire the debt.
The current system perpetuates budget deficits and unsustainable government debt, underutilized workers, a lack of financing for financing advanced energy and green technologies, an outsourcing of U.S. industrial jobs to low-wage countries, trade deficits, shrinking consumption incomes among the poor and middle-class, and conventional methods for financing productive growth that increase the ownership and power gaps between the top 1 percent and the 90 percent whose combined ownership accumulations are already less than the elite whose money power is widely known as the source of political corruption and breakdown of political democracy. We know that political democracy is impossible without economic democracy. Those who control money control the laws that fosters wage slavery, welfare slavery, debt slavery and charity slavery. These laws can and should be changed by the 99 percent and those among the 1 percent are committed to a just and economically classless market economy and true equality of opportunity, a level playing field in the future for 100 percent of Americans.
We can no longer ignore the injustice of the current system. We need to extend capital credit to ALL Americans to finance future growth of the economy such that the new productive capital assets will be broadly owned privately and individually. We economic growth unleashed with technological implementation, the economy will grow at 10 to 15 percent annually, employment will accelerate, and there will be less and less need to provide income supports for those in need and rapidly retire the deficit.
