So, the bottom line. We pay down are debt by raising taxes, or do we do by stimulating our economy?
I say, we stimulate the economy by lowering our taxes.
We reduce the costs and waste of the federal gov’t, and we incentivize states to lower their debt and taxes.
Your comment reminds me of the mindset of Dagney Taggart in most of “Atlas Shrugged” before she too went “Galt”.
Nobody has the political will to do what you suggest because, well, the people would never actually elect representatives with such ideas. The only solutions that will get passed are those that don’t gore the ox of powerful people or groups, which mean nothing of substance will be done until it’s not a matter of voluntary change any more - kinda like what happened in Weimer Germany, Zimbabwe and Venezuela.
It WILL collapse. It is not a matter of if, but when. The doomsayers are right and wrong. They are wrong about timing, as they always are. They are right about there not being a human solution. It’s gonna leave a mark, whenever it happens. And happen it will. It may not be this year, but it will almost certainly be in less than ten. The parabolic exponential growth eventually becomes a vertical line.
Except nobody in Washington is really cutting anything.