So all cuts in spending realistically, will come from that 25% which is not on automatic pilot.
The amounts involved are staggering. I’ve heard that there are over $100 Trillion, with a T, in unfunded liabilities of the federal government. That’s in addition to the “official” debt of $30 plus trillion as of now.
Without drastic action/divine intervention, I don’t see how these trillions of debt/unfunded liabilities can ever be paid.
I agree.
One the one hand, it is inconceivable that we would inflate our currency, increase our taxes, and cut our discretionary spending to come up with $100T. Hey, maybe it sounds like a nice idea but I don't see that happening.
On the other hand, we could default on our entire debt and just start over, doing everything differently, unburdened by the problems we have built up over the past many decades. That too is inconceivable. Nations don't do that. We would never default.
But I don't see a real third option, so I say that one of those two "impossible" things is going to happen. And I think it's clear that a default, and a fresh start, is the smart way to go.
Who suffers the most from a US default? The bankers and the globalists who encouraged our debt. Screw them.
And they never were and never will be. 1040 Tax revenues are NOT tied to government spending, just to banksters that created the FED in 1913, as they continually create money from thin air. See the Grace Commission. See Jekyll Island. See what really happened on the Titanic.