Unless I am incorrect, at the beginning of the Bush II administration, the national debt was $1 trillion or so.
This is a Ponzi scheme. The solution is not to tax more and further, nor to stop spending alone.
The solution is to -- one-time -- abrogate the entire national debt, and disband the Fed. Restructuring would be difficult, but each day that passes it will become all the more painful.
My read is that the abrogation of the national debt will come in two separate phases:
-1- Devaluation of foreign holdings. War is a good time for that move—that may help explain the Warmongering coming out of DC.
-2- Full domestic reset. Issuance of new currency for pennies on the dollar for the old one.
Timing is way above my pay grade—but the insiders will know and will profit big time.