Dramatic drop in federal spending after WWII led to U.S. economic boom
GREENVILLE, S.C.; October 29, 2020— The national debt will explode if either Joe Biden or President Trump is elected. But disaster can be averted if Libertarian candidate Dr. Jo Jorgensen becomes our next president.
The federal government has already amassed $216,000 in debt per person—every man, woman, and child in the United States.
Trump’s plans would increase debt by another $35,000 per person in the next ten years. Biden’s plans would increase it by $39,000.
At interest rates near zero percent, few financial institutions will be willing to lend that amount of money to the federal government. Except for one: the Federal Reserve Bank.
“The Fed will happily create brand new money, conjured out of thin air, and lend it to the U.S. Treasury,” said Jorgensen. “That will inexorably lead to bankruptcy, poverty, unemployment, and price inflation. We could see social and political chaos that make this year’s protests look quaint.”
“The only solution is to decrease federal spending,” she said. “We’ve tried it before, and it works. In the four years from peak World War II spending in 1944 until 1948, the U.S. reduced spending by 75 percent. An economic boom ensued.” She noted that tax cuts unaccompanied by spending cuts are virtually meaningless.
“Under my Libertarian leadership, we would cut spending like it’s 1945,” said Jorgensen. “By getting our fiscal house in order, happy days will be here again.”
Dr. Jorgensen is the only presidential nominee besides Trump and Biden who appears on this year’s ballot in all 50 states plus the District of Columbia.