What To Do About Our Record National Debt? Anyone? Anyone? Bueller?

Hotair ^ | 02/21/2019 | Andrew Malcolm

[himno hero]

Obama already did that, thus the 21 trillion.

The surest way into a marxist state is to debase the currency, and bankrupt the nation. This works particularly well if you stall the Economy at the same time or et it recede. In America’s case, it was and IS the hub of the civilized world. IF you take out America, the upshot is global turmoil.

Alternately, you can wind up the economy and a the developed world enjoys prosperity and earns its way out of the problem; thus PDJT is on course through MAGA!

[GranTorino]

Liquidate all government assets aside from military and post office.

[Vaduz]

Everything will get better after everyone gets free college and a home the socialists says so.

[monocle]

Inflate inflate inflate inflate..........

[reed13k]

Should be the same as what a family can afford on the mortgage. I think the rule of thumb is 2.5 times salary or something like that.

So the Fed govt. should only be allowed to carry debt at 2.5 times prior years tax intake unless a formal state of war is declared by Congress. Such state of War to be renewed on an established periodic basis unless ended by treaty or further congressional action.

[reed13k]

Using GAAP rules wouldn’t that be considered a reserve and not a debt until such time as it is spent?

[bert]

I can’t remember the factor, but as I recall the debt is deemed to ok as long as it is =< a % of the GDP

[bert]

I can’t remember the factor, but as I recall the debt is deemed to ok as long as it is =< a % of the GDP

[New Jersey Realist]

Trump knows how to declare bankruptcy so that is one option.

[SunkenCiv]

Partisan Media Shills (PMS) update. And [singing] ...

Paultardation takes its toll, doo-dah, doo-dah...

• 'The Administration is Setting Us Up to Fail,' says VA Workers Union [downsizing / cutting budgets by not filling vacancies]
• Immigrant advocate in Arizona gets 18-month sentence in tax fraud case
• Want lower taxes? Murphy should focus on pensions, aid to some schools, former candidate
• DeWine proposing 18-cent increase in state gas tax, generating $1.2 billion

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• After Media Pushes U.S. to Take Back Traitorous ISIS Widow, Trump Slams the Door With ONE Tweet
• Ann Coulter is Now a "Never Trump" Conservative
• Ann Coulter: 'Lunatic' Trump could be challenged in 2020 -- from the right
• Larry Hogan: The chance of Trump losing a general election in 2020 is 'pretty good'
• Trump cheers Covington student's lawsuit against Washington Post: 'Go get them Nick'
• Scarborough: 'I Know' Trump Undisturbed By Guardsman's Planned Terror Killings
• Coast Guard Officer Accused of Terrorist Plot Targeting Media, Lawmakers

  ---

• What to Expect as the Mueller Witch Hunt Comes to a Blessed End
• Report: DOJ Expecting Completion of Mueller Report as Early as Next Week
• Report: DOJ Planning To Announce As Early As Next Week That Mueller's Investigation Is Finished
• VANITY: Prediction: Mueller to release report whilst Trump is away in Vietnam (next week)
• Justice Department preparing for Mueller report as early as next week

  ---

• CNN's David Gergen: 'Dandy' Roger Stone Could Be Raped in Prison
• Dems seize on Times bombshell to push allegations of Trump obstruction
• [911 Truther Andrew] Napolitano says if NYT report is accurate, Trump may be implicated in attempted obstruction
• How do you have obstruction of justice when investigators are investigating nothing?

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• GOP Sen. Susan Collins says she'd back resolution against Trump emergency declaration
• The 10 GOP senators who may break with Trump on emergency
• GOP-Endorsed Candidate For Philadelphia Mayor Says 'Mental Illness' Has Kept Her From Working

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• 9-0: SCOTUS Delivers Devastating Decision To State Sponsored Seizure Schemes
• 9-0: SCOTUS Rules That Eighth Amendment's "Excessive Fines" Clause Applies To The States
• Supreme Court Puts Limits on Police Power to Seize Private Property (8-0 w/ Thomas concurring)
• Supreme Court Rules In Favor Of Hoosier, Says High Fines Ban Applies To States (9-0)

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• Study Finds Voter ID Requirements Don't Repress Minority Votes
• Maine Educators Attack Bill to Prohibit Political Advocacy in Public Schools--"white fragility"
• [Protesters on Cape Cod] Plow Driver Accused Of Spraying Trump Protesters With Slush
• CNN Staffers 'Demoralized' by Hiring of GOP Operative Sarah Isgur to Oversee 2020 Coverage
• Fake Newspeople (hilarious but true)
• Gutfeld on Lara Logan's blunt truth on media bias
• Why The Media Falls for Obvious Hoaxes: Because, Like Fox Mulder, They Want to Believe
• Teacher's 'Fake News' Assignment Goes Wrong, Goes Viral (TX)

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• LGBT group cuts ties with Martina Navratilova in row over transgender women in sport
• Chelsea Clinton Tells Planned Parenthood President She'll Only Call Abortion Opponents 'Anti-Choice'

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• #RedForEd: West Virginia Teachers Strike over Charter School Bill Governor Vows to Veto
• #RedforEd: Socialists Organizing Teachers to Turn Purple States Blue by 2020
• Radically Transforming the Nation: Our Politicized Schools of Education
• Apparent Occupy protesters greet Paul at event, shouting compliments [VIDEO] [01/03/2012]
• Ron Paul Praises Occupy Wall Street [12/28/2011]
• Ron Paul Supports Occupy Wall Street [11/21/2011]
• The Old Right/New Left/Neo-Nazi Alliance [10/15/2011]
• Paul supports anti-Wall Street protests [10/03/2011]

[Boogieman]

We passed the point where we could easily pay the debt down long ago, and nobody is willing to make any of the really painful cuts that it would take to fix it now.

So instead we all just pretend it isn’t there and hope we can postpone the disaster long enough to hand the hot potato to the next generation.

[lurk]

Step one is spiritual, a national repent before the God of Israel.

Step two is the resumption of defining everything the way God defines it in the first 15 chapters of Genesis.

Failing that, well, we fail.

[OIFVeteran]

Or the painful tax raises to take care of it, or a combination of the two. The democrats like to tax and spend, republicans like to cut taxes and spend. Both go in the same direction, just one is faster than the other.

Hate to say it but Reagan started this. If you look at the deficit over the last century it was relatively small, with the exception of WW II, It started really growing under Reagan and Bush I. Then leveled off under Clinton, then exploded under Bush II and Obama. It is continuing to increase dramatically under Trump.

People here do not seem to have looked at the budgets and seen what we spend the money on. They think we could cut foreign aid or cut off money to illegals and presto the budget would be balanced. Those two things are such a minuscule part of our budget they would have a neglible effect.

About 74% of our budget is spent on Social Security, Medicare and Medicaid, defense, and interest on the debt. We could cut all spending besides that and still have to borrow to cover that.

Eventually we will have to increase revenue. My suggestion would be to double the Medicare tax and remove the income cap on the social security tax rate and add a cap on maximum amount of monthly benefit under social security.

Do I want to raise taxes? No. But I don’t want my children and grandchildren to be burdened with this debt more. We have been cutting taxes for almost 40 years (except under Clinton) and our debt has just increased.

[AFret.]

No, the next president will be the one to clean it up and possibly look at old people programs, which will begin to run negative balances in the mid 2030’s

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The next president will be a democrat. He/she/it will be the one to take us over the cliff....As a sovereign nation, we won’t get to the “mid 2030’s”.....

[SgtHooper]

Not a hot-damn thing! Pass it on to the next generation! They will!

[CaliforniaCraftBeer]

When (not if) an American centered cash/debt crisis occurs, making our paychecks, retirement, vacation pay, social security and welfare unredeemable dollar for dollar, just WHERE would our leaders find the astronomical amounts of cash and property to financially secure and stabilize (confiscate to save their own first) what’s left of this nation?

Big Sports Gambling?

Big Pharmaceutical?

Tyrannical Drug Lords?

Big Social Media?

Big Pr0nography?

Big Religion?

Local, State & Federal Pensions?

Anonymous Swiss Bank Depositors?

Cayman Island Banks?

Nations Of The The African Continent?

Big Technology?

Wall Street Hedge Funds?