“In America, only the federal government can increase the money supply. Government can create inflation. The most common method of increasing the money supply today is by spending more than is in the treasury, and then merely printing extra money to make up the difference. Technically this is called “deficit spending” . Ethically it is counterfeiting. Morally it is wrong.
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Deficit spending and the inflation it produces constitutes a hidden tax against all Americans -especially... As a nation, we must stop giving away money to foreign nations as though we had it. We should demand repayment of our loans to other countries- especially those who are making the heaviest demands upon our gold supply. We should cease giving them money until they pay their debts to us. We must stop the federal Gov. from deficit spending, and begin immediately to pay off the national debt in a systematic fashion Ezra Taft Benson Secretary of Agriculture, Religious Leader