How can you get rid of government debt?
One obvious way is to reduce government spending and cut social programs and taxes. As we can see in the USA under Trump there is a lot of pushback as soon as you cut government spending, because those who were benefiting from that government spending are losing their cash cow.
Another method it appears Trump is planning to use, combined with the methods mentioned above, is a government wealth fund. There are several ways a government wealth fund can be used this is just one of the many ways: (Note: we are not saying that this is how the American wealth fund will be set up or work) High-value assets like Gold, Silver and rare earth can be placed in and vault, shares can then be sold on the stock market. The money generated from these sales and commission fees can then be added to government funds, reducing the need for tax. The Government can also request that 10% of all natural resources mined or extracted, must be added to the fund, allowing the fund’s value to grow. Because it is stored and not sold, the value will continuously grow, and it will always remain. The shareholder makes money from the asset value growth by selling and buying, the government’s money comes from stock transfer fees, issuing new shares, and investing the money from sales in the financial sector, collecting the interest.
There is also another way, (Not used by Trump as far as we know) you can use that will reduce or in some cases eliminate the government debt. You can create a new local currency, and make the current currency only for international use. You pass a law that makes the international currency non-legal tender with in the borders of the country, to trade locally you have to convert your current money, to the new local currency. All the money then collected can be used to pay off all the bonds and debt, held in the old and now current international currency.
How to reduce government debt