Quote:
Originally Posted by florida.bob
|
We are all losers with this spending bill.
The debt cannot be adressed with the current Fed Reserve system, as "retiring debt" contracts the money supply. The only way that we can effectively regain fiscal solvency is:
1. 15% VAT
2. balanced budget amendment
3. earmark 10% of revenues for debt reduction and reissue 7.5% as "debt free notes".
4. allow energy exploration on federal lands
5. cut corporate taxes to 10% flat rate
6. income tax 20% flat rate
7. limit welfare/foodstamps to three years of a ten year cycle
8. raise social security to age 72
9. raise medicare eligibility to age 72
10. enforce immigration laws (30 million new federal dependents with downward pressure on wages)
11. corporate consumption tax which rewards exporters
12. muzzle the EPA
13. muzzle the trial lawyers association
14. term limits and make lobbying illegal- much of the spending is due to lobbyists and politicians concern for re-election.
NO POLITICIAN has the will to do what is necessary. Given this, the following will eventually occur-
1. The dollar will be dropped as the world's reserve currency
2. We will reach levels of debt management which will consume the lion's share of federal revenues
3. If we cut spending, we will have deflation. If we continue borrowing, and money finally reaches the private sector (rather than the banks) we will have inflation.
4. currency value will decline
It is not a matter of "if", but "when". We have not seen inflation yet, as the money being printed is being used to restore the balances of the banks from the 2008 crash.
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.
