Country in debt - interest free world please!

$2.6 trillion was paid as interest on the debt for the US over the last 5 years.

What Happens When we Cannot Print More Money?

http://en.wikipedia.org/wiki/Criticism_of_fractional-reserve_banking

http://www.stansberryresearch.com/pro/1011PSIENDVD/WPSILC12/PR

The scary point to the tale of our banking system is that it is a perpetuating beast with no limit on the debt it creates, until it is too late to save. This is the reason our money supply grows more and more and loses its value. When I say no limit, essentially, debt is erased by new debt which the government takes on. The problem is that the new debt will need to be paid back within a few years, which will only make the present disaster even worse. So as the financial hiccups hurt the individual who loses their house, that debt is allowed to be erased from existence as long as it is transferred into bond (for example), or paid with newly printed money. The only reason we are able to live on with all of this debt is because we hold one aspect dearly - the ability to print money! The US simply needs to print more money to payoff debt, or scribble on paper to create a bond.

This is completely unsustainable, since the value of the last dollar printed is worth less than the next dollar printed. Eventually, if production falls because people cannot afford to buy goods, the ability to maintain the dollar is erased, as production that is meant for export is not possible to maintain.

$100 borrowed today must make $110 later. This calls for more money to be loaned/printed, which drives inflation up. As we must constantly take on more loans to pay the original loan, this system will eventually bankrupt the governments as it did the people.

The most harmful aspect to me is that commodity prices adjust regularly to reflect inflation, while our wages require higher productivity, union agreements, and company success to grow. This is not something that adjusts through research. Instead, this is something which lags behind commodity prices. Over the past 2 years, I have witnessed a sharp decrease in paid salaries, and commissions. Yet, inflation is a constant and is expected to be between 1 - 3%, increased yearly. This is killing our standard of living, forcing us to spend with loans from our credit cards. The issue is we will extend ourselves beyond our means, pushing us into the same situation that happened in 2008, but even worse...