Yet again, the government saves the dollars it can create at the touch of a computer key, and makes you pay.

Let’s begin with a reminder:

Alan Greenspan, Former Federal Reserve Chairman: “A government cannot become insolvent with respect to obligations in its own currency. There is nothing to prevent the federal government from creating as much money as it wants and paying it to somebody. The United States can pay any debt it has because we can always print the money to do that.”

Ben Bernanke, Former Federal Reserve Chairman: “The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. It’s not tax money… We simply use the computer to mark up the size of the account.”

Beardsley Ruml, former Chairman of the Federal Reserve Bank of New York . “The necessity for a government to tax in order to maintain both its independence and its solvency is true for state and local governments, but it is not true for a national government. All federal taxes must meet the test of public policy and practical effect. The public purpose which is served should never be obscured in a tax program under the mask of raising revenue.”

Federal Reserve Chairman, Jerome Powell: “As a central bank, we have the ability to create money digitally.”: There’s an infinite amount of cash in the Federal Reserve. We will do whatever we need to do to make sure there’s enough cash in the banking system.” 60 Minutes in March 2020

Statement from the St. Louis Fed: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational.”

Paul O’Neill, “I come to you as a managing trustee of Social Security. Today we have no assets in the trust fund. We have promises of the good faith and credit of the United States government that benefits will flow.”

Paul Krugman, Nobel Prize–winning economist: “The U.S. government is not like a household. It literally prints money, and it can’t run out.” “The government can always finance its spending by creating money.”

Eric Tymoigne (Economist) “A sovereign government does not need to collect taxes or issue bonds to finance spending. It finances directly through money creation.”

Now, you would have to say that these are pretty impressive guys, who know what they are talking about when it comes to money. And they all say the same thing:

The federal government doesn’t need your money, can’t run out of money, and has no reason to cut or to tax Socials Security or Medicare benefits.

Even if the federal government didn’t collect a dime in taxes, it could continue spending — at double the rate, triple the rate –forever. Federal taxes do not fund federal spending. Period.

Why does the government levy taxes if it doesn’t need or even use tax dollars for anything?

1. To control the economy by taxing what it wants to discourage (cigarettes, liquor, etc.) and by giving tax breaks to what it wants to reward (charities, renewable energy, rich people). Yes, that last one — reward rich people — is one unstated goal of the federal government. Why? Because rich people bribe Congress and the President.
2. To assure demand for the U.S. dollar by requiring taxes be paid in dollars.

And that’s it. The Monetarily Sovereign federal government DOES NOT collect or use tax dollars for funding. (Monetarily NON-sovereign state and local governments DO use tax dollars for funding. See the difference?)

Those are the facts. So why the following article?

THURSDAY, JULY 30, 2026
Federal aid for Medicare prescription costs to end
By Rebecca Robbins and Reed Abelson
The New York Times

The Trump administration said this week that it intended to end a Biden-era program that for the past two years has helped tamp down the cost of monthly premiums for drug coverage for people on Medicare.

Why? Think about it. Why is the government doing this?

The decision means that millions of Americans 65 and older could face higher Medicare drug premiums next year, when the cost of living is already a major concern. That could be politically damaging for Republicans in the midterm elections.

In the weeks leading up to November, Medicare beneficiaries could experience sticker shock while shopping for next year’s drug plan.

For 2025 and 2026, the federal government gave health insurers billions of dollars in subsidies to help them keep down drug premiums for people on Medicare. Without the subsidies, millions of people could have had to pay hundreds of dollars more a year for their drug plans.

So why is the government cutting benefits?

Dr. Mehmet Oz, administrator of the Centers for Medicare & Medicaid Services, said in a social media post Tuesday that the subsidies had been ended because the insurers no longer needed them.

He said every Medicare beneficiary would still have options for low-cost plans.

It’s not the insurers, Dr. Oz, it’s the people who have to pay the premiums. Oz is saying they no longer “need” lower healthcare costs!

And those so-called “low-cost plans” that Oz suggests have big deductibles. They are “low cost” because they are low pay.

But it is not clear yet how many people may have to pay more. CMS said it expected to make public the monthly premiums for individual plans in September.

About 25 million Americans have stand-alone plans for so-called Part D drug coverage under traditional Medicare. The premiums they pay are $36 a month on average, said KFF, a nonprofit health research group.

An additional 31 million beneficiaries get drug coverage through Medicare Advantage, a private-sector option for those 65 and older.

They should call it “Medicare Disadvantage,” because if you need surgery, you must receive prior approval. That’s when a pimple-faced kid behind a computer, somewhere in a distant city, decides whether you really need the surgery, despite what your doctor says–and the kid’s boss is financially motivated to say, “No.”

Anyone wonder how that turns out? 

The entire program is a scam operation that benefits insurance companies, and pays for some nickel and dime stuff, so you won’t complain when they refuse to pay a $50,000 hospital bill for a surgery your doctor said you needed to survive.

Again, why is the Federal government cutting benefits when it has infinite dollars to pay for benefits?

The reason: To widen the Gap.

The Gap is the financial difference between the rich and the rest. “Rich” is a comparison.  The wider the Gap, the richer are the rich. 

Question; If you have $100,000 are you rich?

Answer: Yes, if everyone else has $25,000. No, if everyone else has $350,000. The wider the Gap the richer you are.

So the rich, who always want to be even richer, get richer by widening the Gap. There are two ways they widen the Gap

1. Get more for themselves with those tax breaks we mentioned earlier, and
2. Make sure you get less, by bribing Congress and the President to make sure you get less.

Actually, they bribe not only Congress and the President, but also the media (via advertising dollars and ownership) and the economists (via university endowments and promises of lucrative jobs with think tanks).

So, you have all those information sources telling you that the Social Security and Medicare “trust funds” (which are not trust funds) are running short of dollars (which Congress controls), so benefits will have to be cut and/or taxes increased, and it’s all 100% bullshit.

(Have you noticed that when the government needs more money for the military or tax breaks for the rich, somehow the money appears?)

If the government wished, it could press a few computer keys, and suddenly, the FICA tax (which doesn’t affect the rich) could be eliminated, and your SS benefits could be doubled or tripled (which wouldn’t help the rich), and Medicare could cover every man, woman, and child in America (which the rich don’t want because that would narrow the Gap).

So long as you remain ignorant and/or lethargic, the rich can continue the scam, that lets them grow richer while you struggle.

Oh, and I would remiss if I didn’t mention the phony “federal debt” which IS NOT DEBT. It’s bank deposits.

No one lends dollars to a government that has the infinite ability to create dollars. Those T-bills, T-notes and T-bonds are bank deposits identical to the deposits you make into your bank savings and checking accounts. 

Here are some estimates from the last couple of years

Bank	Approximate Deposits
JPMorgan Chase	$2.6–2.8 trillion
Bank of America	$1.9–2.0 trillion
Wells Fargo	$1.3–1.4 trillion
Citibank (part of Citigroup)	$1.3–1.4 trillion
U.S. Bank	$500–550 billion
PNC Bank	$430–500 billion

Do you hear people screaming that all our biggest banks are “in debt.” No, because that would be misleading. But to say the government is “in debt” is even more misleading because the government never can run short of dollars.

Remember this: A T-bill is just a dollar bill that pays interest and has a maturity date. As financial obligations, T-bills and dollar bills are the same. 

A government having the infinite ability to create and issue T-bills also has the infinite ability to create and issue dollar bills.

Let’s get even mor into reality. The Democrats supposedly are “for” the average -to-lower part of the financial scale, while the Republicans favor the rich.

But the Democrats may be the dumbest politicians in American history. Given Trump’s obvious lack of honesty, character, ability and truthfulness, and the Republican Party’s obsequence to that criminal, the upcoming election should be a tidal wave for the Democrats.

But in their unrelenting desire to snatch defeat from the jaws of victory, the Democrats now have decided to split into “Democratic Socialists,” liberals, and God know what else, thus assuring that the voting public will be too confused to know what the hell Democrats stand for.

So, what should be a “blue wave” is now in doubt, while the Republicans remain solidly in favor of the 1% who are very rich — and this stupidity is exactly how the 1% retains its rule over the 99%. (Hello Chainsaw Elon Musk and your fellow plutocrats.)

Does concentrated wealth use its available power to preserve and enlarge concentrated wealth? On that, the evidence is hardly mysterious. Research has found that economic elites and business interest groups have substantial independent effects on U.S. policy, while average citizens have little or no independent influence.

Corporate lobbying is associated with lower subsequent effective tax rates, political contributions affect corporate tax treatment, and even corporate charitable giving can be directed toward districts of strategically useful members of Congress.

Meanwhile, the outcome moves in the predicted direction. From 1989 to 2022, the wealth share of the top 1% rose from 23% to 27%, while the bottom half held only 6% in 2022.

When the same class repeatedly funds the politicians, lobbyists, think tanks, media messaging, and academic frameworks that produce policies favorable to that class, “perhaps they simply don’t understand” stops being the leading explanation.

The rich believe it, and I am starting to be swayed. The great unwashed really may be stupid and so deserve to be poor. How else to explain why any of these — black, brown, yellow, red, non-Christian, immigrant, compassionate, honest, fair-minded, female, elderly, not rich, retired, pregnant, ill, gay, or student — would support the party that despises everyone who is not a Rich, White, Christian Nationalist?

If you are not a RWCN, and you still plan to vote Republican, or if you are too lazy to write at least 100 letters and make at least 100 phone calls to your political representatives, then you do indeed deserve the fate they have in store for you.

However, if you plan to get off your duff and work for your own, and your family’s good, rather than waiting for someone else to do it, tell everyone you know just three little things.

1. The federal government never can run short of dollars to support bigger Social Security, Medicare, education, tax cuts and benefits for the 99% — and do it for everyone in America without collecting taxes.
2. Federal finances are not like personal finances, and federal “debt” is not debt, and federal spending actually cures inflation if the spending eases shortages of crucial goods and services.
3. That the unlimited ability of the rich to bribe politicians, the media and economists is criminal and should be made criminal again, as it once was before the Supreme Court ruled that bribery is OK.

Oh, and that reminds me. The Supreme Court has proved it cannot be trusted to police itself, so there should be term limits — say ten years — on every appointment. Those bribe-taking, amoral politicians in black robes need to be controlled.

As my mother used to say, “If you don’t ask, you don’t get.”  I’ll amend that: If you don’t demand, you don’t get.

It’s time to wise up and start demanding.

Rodger Malcolm Mitchell

Source: https://mythfighter.com/2026/07/31/yet-again-the-government-saves-the-dollars-it-can-create-at-the-touch-of-a-computer-key-and-makes-you-pay/