Monetary Policy
Currently, we have a system where a private bank, the Federal Reserve, creates money out of thin air, then lends it to the government, to be repaid by the taxpayer with interest. This is the root cause of price inflation. The average person is getting squeezed from all sides as the prices for their basic needs are continually increasing because of inflation. Prices inflate in our system because the dollar becomes worth less and less with each new dollar that is created.
Our founding fathers knew that such a system was immoral and unsustainable. In order to prevent it from happening, they stated in article 1, section 8 of the Constitution that only the congress had the authority to create money.
In 1913, with the creation of the Federal Reserve Act, congress completely ran afoul of the Constitution. When we finally went off the gold standard in 1971, the central bankers obtained the power to fully manipulate the money supply with no real restrictions.
In addition to rampant inflation, this system has saddled Americans with a national debt so massive that the interest alone is over a billion dollars a day.
My plan is to restore the power of money creation to congress, as well as require that money to be tied to GDP. This would change the meaning of money in our country. Instead of each dollar in circulation representing a dollar of debt, it would represent a dollar of value. Solving this problem would solve a myriad of other problems that each of us face in our daily lives.