How Do You Solve Our Ballooning National Debt Problem?

call me crazy, but at my house when we want to lower our debt we spend less on credit and pay off the credit we owe. But I'm no government economist so this is probably the wrong way to do it. Apparently what I should be doing is borrowing more at a lower rate.
 
Thread starter #5
Apparently what I should be doing is borrowing more at a lower rate.
That's called "restructuring your debt". It can work for a little while as long as you don't keep adding to your debt.
 
Growing our way out of it is the only thing that has a chance of working. It is a long shot but it is a shot. The Wiemar Republic and others have tried to inflate their way out but that will work only in the very near term.
 
Thread starter #10
Growing our way out of it is the only thing that has a chance of working.
If they stopped deficit spending today that's still a 50 year proposition at best and it still doesn't deal with the fact Medicare is belly up in about 3 years and Sosh Security goes shiny side down, dirty side up in about 7-10 years and that in spite of raising the wage ceiling and increasing the eligibility age.
 
How Do You Solve Our Ballooning National Debt Problem?

Not simple! The only way to stop growing the debt is to END social welfare programs and reduce federal government by shutting down agencies and terminating employees. Social Security will have to be converted to an IRA like retirement program. Medicare changed to a premium funded health insurance plan, Social Security Disability terminated. All forms of public aid will have to be terminated. No more Obamaphones, Section 8, AFDC, SNAP/Food Stamps, or Medicaid.

Without those programs, more than a dozen federal agencies will be out of a job anyway, so shut them down and the federal employee budget gets cut in half.

Finally, the civilian federal government needs to be disarmed. Armed IRS agents with arrest powers is rather extreme, as are armed Social Security employees, but the government has both. Shut down the BATFE, disarm the FBI, eliminate the DEA. It is reasonable to arm the presidential protection detail. It is also reasonable to arm US Marshals and border security. It is NOT reasonable to give "field agents" of the Department of Education weapons to enforce their ban on weapons in select facilities!

Even then, the Congress will continue to attempt to buy votes by giving voters "freebies" in the form of special benefits. That has to stop. The only possible break from that spend "other peoples money" electioneering would be the federal courts actually enforcing the intent and purpose of the constitution - which is first and foremost to LIMIT the federal government! (Hold your breath for that one!)

It will not be easy. I may not even be possible without armed rejection of the status quo!
 
Thread starter #13
How Do You Solve Our Ballooning National Debt Problem?

Not simple! The only way to stop growing the debt is to END social welfare programs and reduce federal government by shutting down agencies and terminating employees. Social Security will have to be converted to an IRA like retirement program. Medicare changed to a premium funded health insurance plan, Social Security Disability terminated. All forms of public aid will have to be terminated. No more Obamaphones, Section 8, AFDC, SNAP/Food Stamps, or Medicaid.

Without those programs, more than a dozen federal agencies will be out of a job anyway, so shut them down and the federal employee budget gets cut in half.

Finally, the civilian federal government needs to be disarmed. Armed IRS agents with arrest powers is rather extreme, as are armed Social Security employees, but the government has both. Shut down the BATFE, disarm the FBI, eliminate the DEA. It is reasonable to arm the presidential protection detail. It is also reasonable to arm US Marshals and border security. It is NOT reasonable to give "field agents" of the Department of Education weapons to enforce their ban on weapons in select facilities!

Even then, the Congress will continue to attempt to buy votes by giving voters "freebies" in the form of special benefits. That has to stop. The only possible break from that spend "other peoples money" electioneering would be the federal courts actually enforcing the intent and purpose of the constitution - which is first and foremost to LIMIT the federal government! (Hold your breath for that one!)

It will not be easy. I may not even be possible without armed rejection of the status quo!
None of that is going to happen. We are headed for national bankruptcy. So much for the "full faith and credit of the United States".
 
How Do You Solve Our Ballooning National Debt Problem?

Not simple! The only way to stop growing the debt is to END social welfare programs and reduce federal government by shutting down agencies and terminating employees. Social Security will have to be converted to an IRA like retirement program. Medicare changed to a premium funded health insurance plan, Social Security Disability terminated. All forms of public aid will have to be terminated. No more Obamaphones, Section 8, AFDC, SNAP/Food Stamps, or Medicaid.

Without those programs, more than a dozen federal agencies will be out of a job anyway, so shut them down and the federal employee budget gets cut in half.

Finally, the civilian federal government needs to be disarmed. Armed IRS agents with arrest powers is rather extreme, as are armed Social Security employees, but the government has both. Shut down the BATFE, disarm the FBI, eliminate the DEA. It is reasonable to arm the presidential protection detail. It is also reasonable to arm US Marshals and border security. It is NOT reasonable to give "field agents" of the Department of Education weapons to enforce their ban on weapons in select facilities!

Even then, the Congress will continue to attempt to buy votes by giving voters "freebies" in the form of special benefits. That has to stop. The only possible break from that spend "other peoples money" electioneering would be the federal courts actually enforcing the intent and purpose of the constitution - which is first and foremost to LIMIT the federal government! (Hold your breath for that one!)

It will not be easy. I may not even be possible without armed rejection of the status quo!
Private accounts for social security is a good idea and medicare reform would both be good starts. Not sure about the rest though, I'll have to read up on those before I share an opinion.
 
They will come after responsible Americans who saved a good amount for retirement..Big 401k taxes on withdrawal based on how much you have in it. Also, federal taxes will go up and deadbeats will continue to get their free stuff. Then after these changes, the problem will still not be solved.
 
If they stopped deficit spending today that's still a 50 year proposition at best and it still doesn't deal with the fact Medicare is belly up in about 3 years and Sosh Security goes shiny side down, dirty side up in about 7-10 years and that in spite of raising the wage ceiling and increasing the eligibility age.
Taxes, fees and fines are bringing in about 11% of GDP or 3.3T annually while the Deficit appears to be increasing at an average above 1/2T annually. To stop deficit spending we would have to completely stop SS, Medicare, & Medicaid. This ain't likely. IF we stopped deficit spending and went to a balanced budget today we would have to lose 22T in debt to be completely out of the hole. Growth in GDP is the only thing that can come anywhere close to dealing with that. So, we have to figure out some way to market sand from the dessert, snow from the mountains, oil from the ground get that up at rates above 1 to 3% a year.

We could do pretty good if we had kept what we conquered in WWII and did the plunder thing on it instead of rebuilding and giving it back. We could help a little if we annexed the middle east oil so long as we were content to take it and leave the arabs in their mud huts. We ain't likely to do any of that either.

Considering that we went over the 1T debt mark over 30 years ago, some level of debt is acceptable so maybe it will hold for a bit longer and we can invent a perpetual motion machine or energy from gnats and mosquitoes or something that the rest of the world would pay for. How much money y figgure they got anyway?

I seem to have lost my crayons. Can anyone help? I need the white one to color Saudi Arabia glass colored.
 

dwhee87

Senior Member
None of that is going to happen. We are headed for national bankruptcy. So much for the "full faith and credit of the United States".
That's been my argument for Bitcoin for a while. ;)
 

4HAND

Senior Member
Sosh Security goes shiny side down, dirty side up in about 7-10 years and that in spite of raising the wage ceiling and increasing the eligibility age.
Well that's just perfect!!
About the time I get eligible it'll go belly up!
 
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