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Posted on 04/02/2026 6:44:00 AM PDT by econjack
The gov't debt will kill this Republic unless the drunken-sailor spending by Congress stops. The best chance to stop it: perhaps the line-item veto.
The debt is now over $37 trillion dollars! To put that into perspective, suppose each dollar is a second in time. Then:
$1 million = 11 days, 13 hours, 46 minutes, 40 seconds
$1 billion = 31 years, 8 months, 18 days, 1 hour, 46 minutes, 40 seconds
$1 trillion = 31,688 years, 8 months, 18 days, 1 hour, 46 minutes, 40 seconds
Congress MUST stop spending.
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Any political candidate who runs a campaign based on fiscal responsibility would get his ass kicked. THE END.
Please don’t disparage drunken sailors in that way. They generally stop spending money when they run out of it.
I respect sailors - drunk or not.
I do not respect congress critters.
At all.
They are slime.
Lol.
Congress would never consider the line-item veto as it would take away their power to add pork to bills.
As I see it, the only option would be to bypass Congress and call a Convention of States. But a decent number of states are now run by crazy liberals. So that would probably go nowhere.
Bottom line: Hyperinflation and massive civil unrest, sooner or later.
🙁
It's the lifecycle of all republics. We've printed and debased the republic into oblivion. Next up, a populist and an empire.
> Next up, a populist and an empire. <
You’re probably right. As I noted earlier, this massive overspending will eventually lead to hyperinflation and massive civil unrest.
It would take a bold and ruthless leader to sort things out and bring order back to the country. An American Napoleon, perhaps.
More likely an American Stalin.
My bad and was not my intent.
I agree. A Constitutional Convention is probably going to be required, since Congress sees spending as a re-election tool.
Perhaps we could get a one-bill-one-program rule passed, so a bill doesn’t contain 2600 pages, multiple spending programs, and is given to the members the night before the vote.
Put the House on a four-year election cycle two years offset from that of the President.
They’ll go for that.
“As I see it, the only option would be to bypass Congress and call a Convention of States. “
The problem with a convention is the delegates will, for the most part be ordinary citizens. The wealthiest liberals could offer say ten or twenty million dollars to every delegate to vote for whatever the billionaire wanted. At the original congress there was no one in existence who could have done something like that. Nope. We had better make the constitution work as it is written or face what could be a horrible future.
“To put that into perspective”
It’s about $400,000 per full-time American citizen worker.
At this point a VAT would be needed.
The dollar is NOT money, it is a derivative of money. We are and have been in the unfortunate situation enslaved to the debt-based private-bank-printed fiat where additional M2 and credit must continually be added to feed the ponzi of fractional reserve banking. Consider all the trashing of the FED/Powell, the attention to gold, as we are slowly but surely moving to the end of the debt-based dollar, and to a new US Treasury PM-backed asset-based dollar.
Signs abound - the recent news that DJT's autograph to be on all currency starting in June withe the $100 bill, and the rest thruout the rest of 2026.
Line Item Veto and term limits were tried. Supreme Court said no so the republicans gave up in the 90s.
A REALLY bad idea. A value added tax taxes the value added at each stage of the production process. For example, if a farmer sells a $1000 of grain to a miller, who then sells the milled flour for $1200, that $200 is subject to VAT. As Friedman pointed out in Free to Choose, there are 67 steps to produce a loaf of bread and VAT would tax each step. You think the IRS has a lot of employees now. Also, think of the administrative burden on sellers.
I thought the $38 trillion mark was just passed. If not, it won’t be long.
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