Ahead of Medicare came into law, a single Republican warned that, A single of these days, you and I are going to commit our sunset years telling our youngsters and our children's kids what it when was like in America when guys had been free.” That was Ronald Reagan.
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There has never been public acceptance of paper cash not backed by gold (not till the 1980s anyway), but at times, in order to stop economic disruptions that can result from this practice, governments sometimes cease trading paper currencies for gold.
I am not confident where the government has accomplished any worse a job that I have seen private companies do with their pension programs, letting most of them go broke, as nicely as most of the huge wellness care delivery corporations who overcharge the individuals and frequently deliver piss poor (sometimes deadly) care.