He says it will take 15 years to deleverage our debt if we do not cancel debt. I would also make government debt illegal. Using his numbers we would have to cut debt levels by 240% from the current 300% of our 15 trillion GDP.
US federal debt is 16 trillion 100% of GDP so we need to eliminate all state and local debt as well. We also need to eliminate another 15 trillion or so from privately held debt. He says we should give every adult citizen $20.000 credit against their debts.
That is less than 6 trillion dollars. I would seize assets from bankers and use it eliminate all taxes on a family of four for the first 3 years and to pay half of their utility bills for 3 years until Tesla technology can cut utility rates even lower.
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