If Money is Debt ( due to Fractional Reserve Banking), then What’s the Point of Governments Paying it Back? Debt is Simply being Transferred Around.
This would mean that if the government were to actually get on a balanced budget and produce a surplus, then the debt it initially owed would simply be redistributed to the private sector. Conversely, this would mean that if the government runs a deficit, then there must be a surplus somewhere in the private sector.
What, then, is the point of the government paying back its debt if it means simply transferring it to the private sector (or vice versa)? It certainly makes a lot of the moral talk about paying back debt amongst some libertarians appear ridiculous.
Article from /r/Libertarian: For a Free Society