The USA is broke!
Our daily payment on the "debt" is about 4 billion a day. (correct me if I'm wrong.)
What are the chances that we become just another 3rd world country?
Defer payment to our children and grandchildren. It's the American way.
Either that, or let Greece take us over as a territory of theirs.
According to many indicators like religios fundamentalism, education, wealth gap and a few other important ones that I can't recall at past midnight - you alread are.
"How does a "Broke" Nation recover?"
By spending 1.6 Trillion dollars more.
Works every time.
The best way to put an economy back on track is to increase production and exports, bring more foreign money in to the country.
This is easier said than done, but at the moment teh American cosnumer economy is based on imports, even wages are going to other countries. Improving the export economy is one of the best ways to reduce national debt.
Allow all the states to declare Bankruptcy! Then, we can start all over and let it happen again because nobody learned their lessons the first time.
We just declare that we are NOT BROKE. We stole this country once, we can do it again. Our government is really good at stealing.
Do you really think people around the world would stop doing business with us? And what if they did? We would have to produce our own stuff again, reopen factories, open our borders because our 100% employment is just not enough.
Personally, I wish our POTUS and Congress would stand in front of the world today and declare the US Bankrupt and wipe our debt clean.
Not going to happen so long as we are dependent on foreign oil but just think what we could do if we didn't have that dependency.
All of this is very scary for us Americans but while the debt is high before we could always overcome it because the income on the debt was returning to Americans. The hole we have dug is now very deep because we don't even owe the debt to ourselves! Think about it we are not earning income on our own debt, we are now exporting the interest earned on our debt overseas.
That export will certainly kill us.
How does a "broke" nation recover?
(a) Limited Federal Government power and dominion over people and State.
(b) Limited State Government power and dominion over people.
(c) Bring Truth to light about the Best way to utilize America's way of life.
(d) Increase Educational access to citizens.
(e) Decrease Corporate power.
(f) Decrease manipulative corruption influences.
(g) Increase productivity of all corporations.
(h) Restore manufacturing base(exports and imports).
(i) Stop policing the world.
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