US Congress should decrease debt by twenty trillion dollars

Detractors dismiss oil as excrement. Just as drug traffickers take pains to flood the streets of civilized countries with a wide range of drugs, oil producing countries also have the option of increasing or decreasing supplies according to our geopolitical strategies.

Venezuela has the right to restore its oil industry, and it is our moral obligation to demand that Biden administration lifts sanctions against us. Venezuelans have endured recession during several years because we have been prohibited from exporting our main product.

Russia, China, Saudi Arabia and Iran succesfully pursue dedollarization goals, as they increasingly trade in euro, yuan or ruble. Due to our western hemisphere location, Venezuela remains within dollar sphere of influence. We must be removed from enemy category.

United States Congress has irresponsibly deployed resources to wars. China succesfully argues that diplomacy is cheaper and more effective. New treasury debt should no longer be issued. Austerity seems foreign to shoppers, its value can be learned or imported from abroad.

Treasury debt was considered healthy when it was capped to only 50% of Gross Domestic Product, as was the case in the 1980s. Thirty-one trillion dollars of securities must be smashed, to a more reasonable reading of eleven trillion dollars of interest-generating debt.

Unites States Congress should set target of 50% debt to gdp ratio. Inspiration is available by discipline shown by the Federal Reserve, which will stubbornly ensure that yearly inflation rate returns to 2% target. Excuses supporting anything else belong to banana republics.

Rubén Rivero

Caracas, Venezuela

Urbanismo Emergente. Av. Santa María Santiago de Chile. Fotografía Zulima González. 40 Grados Bajo el Sol