America's financial is based upon the ability to borrow money. However, you need to have money to borrow money. As they say "banks only lend money to people who don't need it".
The banks ability to lend is governed by federal regulations including federal reserve rules. Today, more and more debt is owned by the federal reserve. The debt should be spent for the right purpose.
Debt's primary purpose should be to employ people, and making sure people have jobs. There is a way to build an economic system, which does precisely that.
Lending should be tied directly to job creation. This is not an entirely new concept. The Federal Reserve's charter states one of its primary tasks is job creation. Yet, the banks have been lending money to rise asset prices.
Brokers will give anyone with enough money the ability to buy stocks on margin. Commodity traders can easily buy commodities on margin. Yet, when small businesses want to borrow money to create jobs, they face many hurdles, and they are heavily scrutinized.
While, it may appear less risky to buy an asset than to have in jobs, even this can be a deception. Real estate lending has proved to be insecure. When asset prices become over-inflated, they eventually declien, and the collateral is insufficient to pay back the loan. In the process, asset bubbles wreak havoc on people's lives.
We should have an economy based upon a jobs bubble. This is an economy, where everyone can get job. If businesses don't have enough money to hire everyone out there, they should be able to borrow it on attractive terms, and keep more people employed.