[rbg81]

That’s called a Jubilee, and I am convinced that it is going to happen. Wave the magic wand and cancel all the debts. Tough medicine indeed — but there is no Plan B.

---

The only problem with that Plan is that the day after not much is different. You are still spending at a deficit and you still need to borrow $$ from someone. But who will lend after you just screwed all the other lenders?

[ClearCase_guy]

You see it, but you do not see it.

After the Jubilee, everything IS different. Sure, the politicians want to borrow more money, they want to make more promises, and they want to bribe people some more.

But they CAN’T.

Because they just screwed all the lenders. So now it’s “cash on the barrel head” for anything a politician might want to do and in the midst of a crash and the aftermath of the crash, the government is absolutely powerless to do much or to make promises.

You want Limited Government?? That’s pretty darn limited — because everyone will know that the government is good for nothing.