Deficits Matter
Deficits Have Consequences
In 2010 I published a book, PushBack; Deficit Triggers Hyperinflation Terrorism. The story begins in 2033. The deficit is the trigger that causes the dollar to lose its value, the Chinese and Saudis stop buying U.S. bonds, printing presses generate fake dollars to pay U.S bills. This results in hyperinflation, and the United States is no longer united and shatters into eight separate independent regional governments.
At the time I did not really believe that scenario would play out as described. I was using it as a lead into a story that depicts a historic act of terrorism by good guys. I have always thought the terms, War on Terrorism and the Defeat of Terrorism were misnomers. How can a noun be defeated? There are good and bad terrorist, depending on your perspective.
Today, when normal trillion-dollar deficits are ballooning because of the covid-19, I am beginning to wonder if the PushBack scenario is a real possibility. It is necessary for the federal government to take bold financial steps to counteract the corvid-19. That is not the problem. The potential problem is, will future administrations do what is necessary to bring the deficits under control when the current crises is over, or will they add to the problem. Time will tell.
PushBack is available from Amazon books.
Alfred Wellnitz Books 