Economic Policy Outline for a
Progressive Libertarian Caucus
April 29, 2011 vle
3. Spending. Exactly what government spends its money on should be strictly defined. Setting budgets to per-capita figures would prevent inflation. The division of the budget into social welfare, infrastructure and civil protection payments needs to be decided. Also, the methods of spending need to be decided.
Statement on Social Welfare
Statement on Infrastructure
Statement on Civil Protection
Question: Should the Federal Reserve simply be nationalized? Or should the Treasury simply take control of the money supply and eliminate fractional reserve lending altogether?
Initial thoughts: At the state level, a state bank would be a great benefit to the people and would hedge against the current system. At the national level, I'm not sure this is the best strategy. The culprit of fractional reserve lending needs to be contained, and the indenture of taxpayers to banks, public or private, should be ended.