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The recent election was about a CHANCE to restore fiscal solvency to the US and avoid the consequences of massive debt. It was no guarantee that Romney and Ryan would do so, but at least it was a chance. The US has no chance now.
So............................. with $22 trillion in debt when Obama leaves office, what can the US do to avoid hyperinflation and marked currency devaluation? Such consequences will lead to social instability and insures the break up of the nation.
1. Raising taxes won't do it- If we ENSLAVE EVERYONE who makes over $250K per year, we generate only $900 billion per year and still have an annual deficit
2. Confiscating property- if that happens, it will result in immediate insurrection. However, there is not enough net wealth in the US to finance all the unfunded liabilities, which approach $100 trillion.
3. VAT tax 15%- that would raise $1.3 trillion per year. However, the government does not have the will to do so and would simply spend that "extra money".
4. Print $30 trillion- The US is the only nation that could do so. This, of course, would "pay off" our debt, but would result in a collapse of the global bond market and insure a world wide financial collapse.
5. Have all nations forgive all of their current debt- good luck on that one.
We are on the path to the break up of the US, all due to fiscal insanity. Libs who respond to this thread will offer no SOLUTIONS, as there are none (with Obama in the White House for four more years). They will blame Bush.
The recent election was about a CHANCE to restore fiscal solvency to the US and avoid the consequences of massive debt. It was no guarantee that Romney and Ryan would do so, but at least it was a chance. The US has no chance now.
So............................. with $22 trillion in debt when Obama leaves office, what can the US do to avoid hyperinflation and marked currency devaluation? Such consequences will lead to social instability and insures the break up of the nation.
1. Raising taxes won't do it- If we ENSLAVE EVERYONE who makes over $250K per year, we generate only $900 billion per year and still have an annual deficit
2. Confiscating property- if that happens, it will result in immediate insurrection. However, there is not enough net wealth in the US to finance all the unfunded liabilities, which approach $100 trillion.
3. VAT tax 15%- that would raise $1.3 trillion per year. However, the government does not have the will to do so and would simply spend that "extra money".
4. Print $30 trillion- The US is the only nation that could do so. This, of course, would "pay off" our debt, but would result in a collapse of the global bond market and insure a world wide financial collapse.
5. Have all nations forgive all of their current debt- good luck on that one.
We are on the path to the break up of the US, all due to fiscal insanity. Libs who respond to this thread will offer no SOLUTIONS, as there are none. They will blame Bush.
What now, what now....well, I guess we could vote in Republicans into Congress.
What now, what now....well, I guess we could vote in Republicans into Congress.
Oh, wait, we already tried that.
What now, what now......
Ron Paul, maybe?
Of course- this is what I expected. No solutions- just snide comments. Amazing, isn't it?
This is the problem- there are no solutions, therefore insolvency and the break up the Union is inevitable. Liberals are celebrating Obama's re-election and essentially dancing on the grave of the former US.
I remember right wingers have been crying about the coming hyperinflation since Clinton.
Well where is it?
Sure the cost of items have gotten more expensive but that is normal. In a developed economy anywhere, you will normally see between 1% to 2% inflation. This is necessary since economic growth = money supply growth.
I'm still waiting for that hyperinflation that is always coming in a few years.
Do what every company does. Pay the vigorish with upper level income taxes and keep on keeping on.
I have already pointed out to you-
If you ENSLAVE EVERYONE who makes more that $250K (100% taxes), that only generates $900 billion per year and we still have $300 billion in annual deficits- try again.
I remember right wingers have been crying about the coming hyperinflation since Clinton.
Well where is it?
Sure the cost of items have gotten more expensive but that is normal. In a developed economy anywhere, you will normally see between 1% to 2% inflation. This is necessary since economic growth = money supply growth.
I'm still waiting for that hyperinflation that is always coming in a few years.
haha yea right.....
You are ignoring basic economics.
Your argument is akin to a man standing in a flash flood up to his waist in water, laughing at those who ever thought that anyone could drown in a flash flood, just as a ten foot elevation in the water is bearing down on him.
So you think that we could have more and more debt and nothing will happen? If not, what number causes problems? $30 trillion? $50 trillion? $ 100 trillion?
Keep in mind that at $24 trillion, 94% of the annual budget goes to pay for medicare, social security, medicaid, welfare, and to service the national debt. That leaves nothing for everything else.
Now with no money for roads, the military, education, ect................... what do you think will happen? You urban dwellers with no land, food, water, or weapons will be in a bit of a fix.
Of course- this is what I expected. No solutions- just snide comments. Amazing, isn't it?
This is the problem- there are no solutions, therefore insolvency and the break up the Union is inevitable. Liberals are celebrating Obama's re-election and essentially dancing on the grave of the former US.
Any RATIONAL or ADULT comments or solutions?
Your OP contains no solutions, only "what now libs" finger pointing. What do you expect?
I VOTED for a solution, while you voted for status quo, and spiced it up with finger pointing. People like you are the problem.
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