Brian Armstrong: The U.S. Constitution lacks a cap on government spending growth and a requirement for currency to be backed by hard assets
Svmuu News: Brian Armstrong posted on X, stating that the U.S. Constitution is the most important political innovation in history, but it lacks two crucial elements: a cap on government spending growth and a requirement for currency to be backed by hard assets. Without these two elements, every democratic nation will head toward greater debt and ultimately lose its status as a reserve currency; see *The Changing World Order*. U.S. debt stands at $39 trillion and increases by approximately $1 trillion every 100 days. Interest payments now exceed the defense budget, and existing mechanisms are unable to halt this trend. Politicians get elected by promising to provide free benefits using other people’s money; while some voters benefit in the short term, the negative consequences of this spending are borne by future generations who do not yet have the right to vote, rendering the incentive structure ineffective. Solutions include drafting new constitutions in frontier regions—such as Mars, special economic zones, or cyberspace; adjusting the incentive mechanisms within the existing system through constitutional amendments, though this is politically challenging; or achieving hyper-growth through AI, robotics, and cryptocurrency to outpace inflation.
Source:Odaily · Source Link
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