Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
At $14+ trillion it seems we have dug a hole deeper than we could ever get out of. Some economists argue that we passed the point of no return long ago, back at the $2.5 trillion mark.
Why not just let it crash, default, and start from scratch again? Yes, it will be brutal, but probably not as bad as postponing it for decades.
At this point,. it's easier to declare bankruptcy (again) because no one dares to touch the golden geese in government: the defense budget AND entitlements. You'd need to reduce the size of the federal government upwards of 50% to make an impact.
The government could spend $0 every year for the next decade. Boom. Problem solved.
Seriously though, the interest on our debt would still cost us big time in any budget trimming scenario. As has been predicted, within a few decades the largest portion of our budget would be allocated to interest payments (provided we don't change our current ways).
The government could spend $0 every year for the next decade. Boom. Problem solved.
Seriously though, the interest on our debt would still cost us big time in any budget trimming scenario. As has been predicted, within a few decades the largest portion of our budget would be allocated to interest payments (provided we don't change our current ways).
And you know we aren't because politicians want to save their careers. It's damned if they do and damned if they don't. We are heading for bankruptcy
At $14+ trillion it seems we have dug a hole deeper than we could ever get out of. Some economists argue that we passed the point of no return long ago, back at the $2.5 trillion mark.
Why not just let it crash, default, and start from scratch again? Yes, it will be brutal, but probably not as bad as postponing it for decades.
yes, because a debt based monetary system needs to continually create more debt to keep going. it is critical for people to understand this. what we need is to change monetary policy. the only alternative is to let her rip, the economy that is.
We have this giant credit card out there that is maxed out, we continue bto address the problem by raising our credit limit while paying minimum payments. We need to raise taxes
Much easier to let inflation do the hard work. 10% inflation and the real value of your debt goes down by $1.4 trillion in just a year.
for our govt to do that is just blatantly dishonest. second that has serious implications for the dollar and your std of living. inflation also encourages debt and discourages savings esp if you have interest rates set by a central body.
for our govt to do that is just blatantly dishonest. second that has serious implications for the dollar and your std of living. inflation also encourages debt and discourages savings esp if you have interest rates set by a central body.
Yup ..... and your point would be
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
