Dear editor:
So: Trump’s much ballyhooed 1.4 trillion infrastructure plan seeks to shift most of the financial burden onto the states, money which NJ doesn’t have. According to NJ Senator Menendez in a speech last week, the cost will be borne by NJ commuters and taxpayers, and he intends to fight it.
There is a simple remedy, however, and it is to obey the Constitution, which states in Article 1, Section 8, “The Congress shall have power to coin money and regulate the value thereof.” To coin money means to print money. Congress could print all the money needed to hire workers to fix all our roads and bridges and tunnels and waterways. The money we use now is printed out of thin air by private bankers, money which is then lent to the U.S. government, at interest. Nice work if you can get it, as the song says. Much of our national debt is interest owed on this borrowed money. The money created by Congress, obeying the Constitution, would be debt-free.
Congress disobeyed the Constitution and gave its power to create money to the bankers in the Federal Reserve Act of 1913, (not “federal”, it’s private, and no “reserves”, only a printing press), but it can vote to abolish that Act tomorrow if it chooses. Since Congress has not chosen to do so (condemning our children’s children to inherit this debt of which they will never be free), there must be something in it for them.
T. Weed
