The US National Debt clock is still rising (Congress, wage, solutions)

[Follower Of X]

just sayin...

[bradjl2009]

As it has been for the past 35 years..............just sayin

[gwynedd1]

I suppose you can borrow money from a bank and pay taxes with it which would at least keep the money supply stable as long as you keep doing this. If you did this every month for $1k a month then:

$1K per month bank credit + = -$1k of government credit balance = 0 credit float in the economy.

Another way is to increase taxes and rapidly shrink the money supply. You would need to increase it since the relative supply of money will shrink in a depression and shrink revenue: Start out with an increase to say 250 billion and remove about 1/60 of the credit from the 15 trillion dollar economy. Naturally to do that again you would need to increase taxes slightly because you would have an over 4 billion dollar short fall assuming that no businesses closed down. At some point I'd guess the tax system would fail as is since there would be nothing but wage labor at that point which would soon run into a mathematical impossibility.

The next option is to decrease spending. We can generally follow the same model as above since a surplus is a surplus. It would of course have to keep decreasing spending to get the same surplus in a credit starved economy given the tax short falls it would cause. However once again that would leave us with the mathematical impossibly of owing in dollars when there are none.

[bmw335xi]

Republicans will cut entitlement programs, but will increase military spending and decrease tax revenue.

Both parties won't be able to stop the deficit unless they CUT SPENDING and INCREASE REVENUE.

[bluesjuke]

The clock running as it is is bad enough.

The current Congress and Administration turning it ahead is even worse.

[fusilier0770]

Originally Posted by Follower Of X

just sayin...

No *****? Its been doing that for at least 30 years. Welcome to the credit party Rip Van Winkle, glad you could join us.

[MIKEETC]

Originally Posted by Follower Of X

just sayin...

Nobody is going to do anything serious about it because the solutions are painful.

[just sayin']

[Follower Of X]

Originally Posted by MIKEETC

Nobody is going to do anything serious about it because the solutions are painful.

[just sayin']

Painful as in sacrifice? forget that, we dont want to hurt anyone's feelings.

[tluv00]

That clock has been growing since it was first turned on genius and it will beyond this Presidency.

[MIKEETC]

Originally Posted by Follower Of X

Painful as in sacrifice? forget that, we dont want to hurt anyone's feelings.

It's more substantial than feelings.

[crashing the car into the wall is going to hurt more than just feelings]