Posted on 05/27/2025 9:41:12 PM PDT by SeekAndFind
Edited on 05/28/2025 1:39:25 AM PDT by Admin Moderator. [history]
Hello, this is Victor Davis Hanson for The Daily Signal. I’d like to talk about debt, debt, debt.
All during the last few days, we’ve heard some startling news. Moody’s, the bond evaluator, for the first time in its history, since 1917, has lowered the credit rating of the United States government from Aaa to Aa1.
(Excerpt) Read more at dailysignal.com ...
And then there is what will actually happen (variation of option 3):
The debt is in fiat - switch, over a long weekend, to “New Dollars” (call it “Rainbow Currency”), and the current debt is ignored. Have a Bretton Woods 2. Work in dealing with Ft Knox and the other gold vaults. Get rid of COMEX/LBMA and paper silver and gold.
Declare NESARA/GESARA.
The current news on student loans - ties in with NESARA Jubilee.
The number of government bureaucrats from local to federal that are sucking up huge amounts of money could be reduced by at least half with almost zero noticeable impact.
Bitcoin is the bet that no debt reductions will ever take place.
We’ve all been in debt. What’s the first thing we think of?
“guess we’re gonna be eating oodles of noodles and peanut butter sandwiches for a while.”
that’s nothing new for Americans. We’ve had worse. We can solve this.
but we also have people working to destroy the country using the system against us.
therefore we need some safeguards for the systems to keep it from dying.
As such... i would propose a Constitutional Amendment to FORCE congress into spending less.
this would take any blame off congress and shift it to unavoidable Constitutional restrictions.
as such, to actually resolve the debt issue and to put us in a situation to avoid ever having to worry about the Cloward & Piven strategy hurting the country...
i propose the following Constitutional Amendment (obviously it would need some legalese but the numbers would have to stay the same for the desire effect).
Please understand, this would be draconian but no more so than what every family goes thru trying to pay the monthly mortgage for 30+ years.
proposed bill to solve the deficit/debt crisis:
—
IF the national debt exceeds 10% of previous year GDP...
current year budget SHALL NOT exceed 50% of the previous years revenue.
The reduced budget will prioritize national security and the welfare of people.
Next, prioritize the list of US creditors and the amounts owed.
Finally, the unused revenue would go directly to the debt interest and pay down the creditors in a best case strategy.
IF spending exceeds 50% of the previous years GDP by more than 3%,
those responsible will be removed, banned from govt service, and their pension will be forfeit.
—
As an example:
—
the 2024 GDP was $29.2 trillion with federal revenue of $4.9 trillion.
As such, 10% of the GDP would be $2.92 trillion and our debt is reportedly $37 trillion.
therefore, this provision would be required by law thereby restricting the 2025 federal budget to $2.5 trillion (rounding).
this would cover the DoD ($800b), various govt overhead (typically 10% or $700b) and the remaining $1b would be for entitlements
then we pay the interest, roughly $1 trillion.
leaving us with about $1.4 trillion to pay down on the debt.
At that rate, we’d be able to pay off the national debt and drive a stake thru the heart of Cloward & Piven within about... 30 yrs.
it’s possible. currently, we have a chance to save the country from financial ruin and collapse.
but only if we follow such a restrictive course until we’re out of the woods.
If they want more money to spend then they should look into increasing foreign exports to bring in more foreign money while encouraging foreign imports to drive up tariffs to increase federal revenues
There’s got to be a place for Victor in Trump’s inner circle.
I wonder how that relates to Moody’s China bond rating of A1. Supposedly that means negative.
Fourth option: Dissolve the Federal Reserve and confiscate their corrupt assets. Healing would start immediately.
Talk about an utterly corrupt and useless institution.
Why would anyone have ever thought it was a good idea to put the money in charge of crooked bankers?
Wanna tackle the debt?
First do away with the use of baseline budgeting.
Until the use of that is stopped, debt is built in.
To me, this is plainly capital acting through the Fed and Wall Street to limit Trump's America First economic agenda and restore the globalist unlimited flow of goods, cheap labor and capital even if that destroys the US.
I agree. Baseline budgeting is killing us.
We need every department to submit an itemized line-item budget for everything they want in the next FY. Bonuses should be given to all department employees for those departments that cut spending and those that grow over a set amount should face mandatory salary cuts spread across the department.
RE: First do away with the use of baseline budgeting.
PRECISELY! You win the post of the day.
We added trillions to our debt after implementing TARP due to the mortgage crisis of 2008-2009. That became the budget baseline long after the mortgage crisis subsided.
Then we added trillions more during the Covid Pandemic. That became the baseline long after the pandemic.
Sen. Ron Johnson ( who’s getting a lot of flack even in FR, not to mention fellow Republicans), pointed this out. Had we simply stuck to our budget BEFORE the pandemic, we would on our way to balancing the budget and lowering our debt load by now.
Fourth option:
Conquer poorly defended wealthy countries and take their wealth.
I am not say we will or should do that, but an exhaustive list should include that option.
It may just be we are already past the point of no return.
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