How would you solve the national debt? (Iraq, middle east, Afghanistan)

[tickyul]

YOU DON'T.........one of the bennies of having a fiat-currency is you can run wild deficits and debt.

As long as people and other countries have faith in USA and its currency, we are good to go.

[Hoonose]

Originally Posted by michiganmoon

That is because interest rates have been DROPPING as the National Debt Increased and are at historic lows going back to ~1952.

Rates have been set low by the Fed for many years now.

[Lonerandsad]

Cut foreign aid and military spending

[Hoonose]

Originally Posted by Mason3000

Over half the national debt is interest owed to the banks behind the Federal Reserve. I would start by telling the Fed that the taxpayers of the United States will no longer be paying interest on their own money & then tell them that we will pay the existing debt at our convenience and will not pay anymore interest on it. It's over.

You are saying that We the People owe $10T to Member banks?

[Loveshiscountry]

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.

Make sure the budget has less spending than revenues.

[DJboutit]

Cut defense budget by a min of 40%
Stop giving aid to countries that do not like us
Tax the 1% to 3% at like 30% to 35%
Tax medium to large business at like 20% to 25%

[freemkt]

Originally Posted by workingclasshero

some good ideas there

yes legalize prostitution......

yes re-legalize hemp and anyother of the drugs...if you want to buy it, if you 'need' to get high to handle life, why not be legal about it

but the answer is to NOT tax income, especially since a good majority of income is never reported (legal or not)....

tax spending

Pass the Fair Tax | FAIRtax.org

The rent is too damn high and you want to tax it?

Windfall for homeowners, nightmare for renters.

[WaldoKitty]

Originally Posted by tickyul

YOU DON'T.........one of the bennies of having a fiat-currency is you can run wild deficits and debt. As long as people and other countries have faith in USA and its currency, we are good to go.

That has nothing to do with it. Oil has everything to do with it.

The US Military absolutely guarantees that any county with USD can buy oil from any county which produces it for export.

The Petrodollar.

It has been in existence since 1973 after Nixon defaulted on the gold backed US Treasury Note and put us completely on the fiat Federal Reserve Note. All countries on the planet either sell or buy oil. Thus they must have USD in order to do so and this is why we are able to create debt and export it.

[michiganmoon]

Originally Posted by michiganmoon

If interest rates were to rise to the average under Clinton and W Bush, the interest payments would be around a Trillion a year.

QE keep coming!

Originally Posted by Hoonose

National interest payments adjusted for inflation haven't perceptibly changed since 1988.

Originally Posted by michiganmoon

That is because interest rates have been DROPPING as the National Debt Increased and are at historic lows going back to ~1952.



So, just as I said, if interest rates were to increase back to the average rates under the Clinton years the interest payments on the national debt could hit $1,000,000,000,000.00 a year.

At least all of Obama's fed picks have been to Trickle Down Economics QE supporters!

https://reason.com/archives/2012/09/13/occupy-the-fed

Originally Posted by Hoonose

Rates have been set low by the Fed for many years now.

What are you doing?

My initial post is 100% accurate and you keep trying to divert away from it.

Rates have been steadily dropping the past several decades.

If rates were to return to where they were under Bill Clinton the interest payments on the national debt could hit $1,000,000,000,000.00 a year.

[Finn_Jarber]

How would you solve the national debt?

I would make it affordable by expanding the economy.