What would Rothbard do?

Repudiating the National Debt by Murray N. Rothbard:

.. when government borrows money, it .. commits not its own life, fortune, and sacred honor to repay the debt, but ours .. It can only get money by looting our resources through taxes, or through the hidden tax of legalized counterfeiting known as "inflation." ...

.. the public creditors are willing to hand over money to the government now in order to receive a share of tax loot in the future ... The public credit transaction is not a genuine contract that need be considered sacrosanct ..

Government spending, therefore, rather than being "investment," is consumer spending of a peculiarly wasteful and unproductive sort, since it is indulged not by producers but by a parasitic class that is living off, and increasingly weakening, the productive private sector .. by creating new money—matters become still worse, since credit inflation creates permanent and rising price inflation as well as waves of boombust "business cycles."

I propose, then, a seemingly drastic but actually far less destructive way of paying off the public debt at a single blow: out-right debt repudiation. .. we the living did not contract for either the past or the present debts incurred by the politicians and bureaucrats ..

.. why should more private capital be poured down government rat holes? It is precisely the drying up of future public credit that constitutes one of the main arguments for repudiation, for it means beneficially drying up a major channel for the wasteful destruction of the savings of the public. What we want is abundant savings and investment in private enterprises, and a lean, austere, low-budget, minimal government. The people and the economy can only wax fat and prosperous when their government is starved and puny.