How would you solve the national debt? (border, politicians, compared)

[Goodnight]

There is no way to balance this budget without raising taxes, even if you got rid of the entire DOD we would still be spending more than we take in. Just raise income taxes.

[Hoonose]

Originally Posted by Ih2puo

What happens when they no longer have faith?

If the USA and its productivity, wealth, rule of law and security are destroyed by pestilence, war or asteroid hit...

Then millions upon millions of individual investors, business, banks, financial houses and other investment concerns, politicians and other people of power, crooks of all types, cities, states and countries all over the world will be trying to unload their USD and USD based investments.

[Hoonose]

Originally Posted by workingclasshero

because right now rates are in the toilet

I can remember when you could earn 5% just on your passbook savings account...today your lucky if you get 1/2%

Risk - reward. The world today disagrees with you that today the risks of passbook savings should be higher.

I can remember getting 13% with MM funds, and 19% second deeds of trust. And paying 14% on a home mortgage. 1980 was a different economic world than 2015!

[AKA Bubbleup]

I think I may have a workable solution to zero out our Debt $20T, Deficit $5.8T and unfunded liabilities $98.6T here. If you like what you see below, please read the link and shoot it full of holes if necessary. I'd like other perspectives on this.

Before you dive in it's an exhaustive write up that in a nutshell:

1) Defines the truth of the issue that creates National debt - Elected officials are addicted to wealth and power (which can be facilitated only through spending more).

2) Defines an alternative that reverses the issue - Elected officials are addicted to wealth and power (which can now be facilitated by spending cuts).

3) Outlines a directive that is a win win for everyone - a 5% plan:

a) The legislative body identifies the who, what, when, where, why of an initiative that reduces spending (could be merging multiple programs to one, eliminating or replacing programs, etc)

b) Apply criteria: Eligible for the 5% plan vote if acting on it results in 1) an equal or improved level of services and 2) produces a net result of less spending or an associated reduction in cost.

c) Vote for Implementation/ Distribution: Majority vote means the cost reduction event goes into action immediately. 5% of the total amount saved is equally distributed to all yes votes.

This same concept can be applied to State & local municipalities. On a National level though, our current $125T obligation would be up for grabs to be reduced. A 5% distribution for making that happen means that about $6.5T is up for grabs and capable of being split 535 ways (House and Senate body).

With that distribution:

- The legislature can feed their addiction to wealth and power.
- Spending and spiraling costs of unfunded liabilities are reduced
- Immense highly skilled job growth and tax revenues (managing and maintaining the reduced cost programs in private or thinned down gov't sectors)
- And equal or improved services for those that need them.

[Ferd]

Cut 1 penny out of every dollar in the current budget.
insure that all spending in the future is paid for.

we get to balance and serious debt reduction in less than 10 years.

[michiganmoon]

Originally Posted by Hoonose

Why would the Fed want to raise rates?

For the same reason Japan is saying that they may have to raise rates in the next decade.

[jetgraphics]

[] Repeal clause 4, 14th amendment (end the prohibition on challenging the validity of the debt)
[] Void debt, for fraud (no "dollars" were lent to Congress)
[] Billionaires become zero-aires ("dollar bills" are worthless IOUs - and once the debt is void, so are they)

D'Oh!

[Hoonose]

Originally Posted by michiganmoon

For the same reason Japan is saying that they may have to raise rates in the next decade.

Which is..?

[Caleb Longstreet]

Originally Posted by basketballdude39

If you were president or a law maker, how would you solve the 20 trillion USD debt?

Me:
Legalize prostitution to create legal jobs. And give men more jobs since a lot of women would quit theirs.

Legalize weed to free up police and create tax, and reduce organized crime.

Sell security to African countries with US military, or any country that needs defense from gangs or rebels or w/e.

Probably cut some funding to social security since that's the highest expense of the US gov.

Stop borrowing form social security. Johnson started it and every president since has followed.
Balanced budget. Period.
Cut government by 8% year over year for 4 years.
Learn to live WITHOUT so many programs
Seal the borders. You can't afford anymore "teeming masses yearning to be free"
Flat tax. EVERYONE pays something BUT you you have some control over it
Extend social security age to 70 and graduate up 1 year every 20 years.
Reduce military spending by 10%. Quit building new Shiite. Keep the A-10 as its a beast. Scrap the x-35 as no one can eclipse the F-15 soooooo......improve missile technology. Cheaper
Kill off almost all foreign aid
Kill big bird. It's a start, NPR can get their own money
Scrap the funding for the arts. Revisit 10 years from now. We need healthcare now more than a painting.
Cut social handouts by 20% except for Medicaid and Medicare along with social security
Modify all public pensions NOW
Drill baby drill and export accordingly. Break foreign oil dependence in 10 years
Even up the trade imbalances
Build mega factories to help our auto makers compete globally.
Turn our backs on some nations and their wars unless others join the fight AND help with the cost. Use more bombing and live with some collateral damage. It's cheaper.

Above all, use the flat tax, kill the IRS, reduce government spending as described. It's tough live but if we wait we won't have any option short of loan defaults. Hmmmmmmmmm....

[lilyflower3191981]

Originally Posted by basketballdude39

If you were president or a law maker, how would you solve the 20 trillion USD debt?

Me:
Legalize prostitution to create legal jobs. And give men more jobs since a lot of women would quit theirs.

Legalize weed to free up police and create tax, and reduce organized crime.

Sell security to African countries with US military, or any country that needs defense from gangs or rebels or w/e.

Probably cut some funding to social security since that's the highest expense of the US gov.

There is good reason to reduce the deficit and our long-term debt in the medium term. That will require some creativity – not necessarily less government, or more government, but different government. It ought to be OK to think about how things might be structured better in the long term. That, after all, is what “progressivism” should mean.

Legalize prostitution and also, legalize all drugs.

Secure the border. Cut spending.

Make all government benefit programs time-capped. Things like unemployment can be beneficial when someone is down on his luck, but government benefits shouldn't go on long-term.

Make a portion of every government worker's pay incentive-based.

etc