Tuesday, May 31, 2016

Legislation to retire the national debt (and re-build the economy)

I am trying to get legislation through Congress and the Texas legislature that will take control over how the debt is exchanged for other assets and turn the national debt into a spendable asset:

For example, Social Security can turn in some of their bonds to the Treasury, and a cross-jurisdictional committee would swap those bonds for other assets, such as a Texas Stock Market.  Wall Street does this every day, and they call it a debt-to-equity swap or debt/asset swap.  Rather than that happening behind the scenes, the committee directs those assets for the benefit of the local economy or infrastructure.

This would bring about $200 billion to each State for economic and infrastructure development, probably close to a $1 trillion in Texas due to population size, with no new taxes.  The debt would be retired as it was swapped for other assets, so the tax revenue would no longer be the income stream supporting the debt, and it could be paid back more rapidly and directly to the debt owners.

Please contact me for more details.

My background:  
I have a degree in Accounting from UT Austin, REO tax management at Bank One, wholesale mortgage lending including packaging loans for sale to Wall Street, Executive VP software recruiting firm, managed IT department for a Medicaid health plan in Arizona, Series 7, 10 years of trading, architect at Morgan Stanley.

More on the Robin Hood legislation #robinhood: