By 2040 US national debt will reach 35 Trillion dollars. What do you think should be done to stop it
Debt is set to more than double by 2040, double again by 2060 and double again by 2080. The current US national debt per tax payer in the US is $131,010 (and keep in mind this doesn't include any personal debt of every individual, just what the government has purchased on the tax payers behalf). The picture I included was the most recent picture I could find check usdebtclock.org for a realtime reading on the debt.
Cut the spending drastically and let friends, neighbors, relatives help each other instead of expecting the government to do it. The handouts have created more problems than they have solved.
Thier is no way to slow down the national debt without making cuts and structural changes to the three largest areas of spending: defense, medicare and social security.
Also we need to return to the Constitutional limits of our government, which doesn't permit wealth redistribution and returns power to state and local governments which in turn provides more fiscal accountibility to the poeple they represent.
The only real solution to the debt crisis is to cut spending dramatically:
Bring the troops home from Iraq & Afghanistan while also shutting down many of the 150 military bases around the world.
Sell all stock the government owns in so-called private banks & autos and make a constitutional amendment that prohibits further bailouts.
Eliminate or dramatically cut many government agencies, including the FDA, Department of Education, Homeland Security Department, FEMA, and others.
Cut all Foreign Aid (which mostly goes to dictators anyway)
Truly reform all welfare, by cutting the programs and allowing young people to opt out of the Social Security and Medicare programs if they choose to use private alternatives.
Governments can NEVER EVER pay off the national debt because the amount of money in circulation: the money supply, is controlled by the banks (the Fed, JP Morgan, et al). The banks will always ensure that there is never enough money in circulation - at any given time - to pay off the national debt.
The banks create money by issuing loans. Over 90% of all currency in circulation - at any given time - consists of this 'bank money' which: to you and me, should really be called 'debt money'. When a loan is agreed - the sum agreed to is called, 'the principal'. Under the fractional reserve banking system 90% of this money can then be loaned out whilst 10% must be held in reserve.
Say a bank agrees a loan of 10,000 dollars. Once agreed this amount becomes 'new money'. As things stand the banks can now loan out 9,000 dollars of this 10,000 principal. Once the 9,000 dollar loan is agreed to this becomes 'new money and the process repeats. The original 10,000 dollar eventually leads to the creation of almost 100,000 dollars worth of 'new money'. All new money is debt. When governments bailed out the banks in 2008 they essentially nationalized all the 'toxic debt' accrued by fraudulent banking practices (the sub-prime scandal).
So what are you going to pay off the national debt with? More debt?
In case you haven't noticed the amount of money in circulation is rapidly contracting. This is a deliberate policy of the banks. They simply call in old loans and refuse to issue new ones. They will even refuse to issue new loans after they are given billions of dollars in taxpayers money by Ben Bananke.
Every American President that has understood the problem and gone on to try and fix it by constituting a national bank with the monopoly power to issue currency has been assassinated: including Kennedy and Garfield.
You do not live in a democracy. The national debt will never be paid off and there is nothing that you or your government can do about it.
Here is my master plan -
1) Don't spend more than you have.
2) Don't waste the money you do have on corruption and non-sequitors.
3) Don't raise the debt ceiling.
4) Fire lazy cops and hire productive ones.
5) Don't spend more than you have.
We don't own the money anyway, the FED does. Let it ride!
by Marc Woodard 9 years ago
This Exerpt taken from my hub "A Stern Message to our Health Reform Politicians""They steal our tax dollars without representation, run up debt in back room deals and God knows if our GDP will be enough to clean up our debt even within a hundred years. You see if Bernie Madoff would...
by Jack Lee 2 years ago
This should be on the front pages of every newspaper...https://www.cnsnews.com/news/article/te … 0000-1-dayWhy isn't it?
by crazymom3 5 years ago
What is the government doing to pay off the national debt? How is it being paid off?
by Cat R 7 years ago
What is the reason for our country's gigantic amount of debt?What do you think causes the most 'damage'?- Illegal Immigrants and the loss of taxes/amount of money paid to them for welfare type programs (that are not covered by the taxes they pay since they don't pay taxes)?- The money spend on...
by SheriSapp 4 years ago
Why do the liberals insist on more deficit spending when the nation is BROKE?Why do the liberals REFUSE to understand that the deficit spending MUST be stopped or the nation will become premanently bankrupt?
by Mom Kat 7 years ago
Alright, so I have a question & I would appreciate not being attacked. With the debates and election coming up, as usual, one of the big topics is the national deficit.My question is this: Who do we owe that much money to?It keeps going up, why? Where is all of this borrowed money...
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