How in the world are we going to pay off all of this debt? Raising taxes to do it would burden our economy, and then the situation would only get worse. To me the solution is obvious, cut spending. For too long in this country we’ve had the give-me-material people standing there with their hand out, and the government putting a touch in it. Does the thought of tiny government ring a bell? It is what our founding Fathers had in mind when they gave us our constitution. That is why there is a list in the constitution that quite clearly spells out the powers of the federal government, and also what it is not allowed to do. So basically if it was not listed as a power, then they are to stay away from it, and allow the States to handle it. Just take a look at federal laws. At the very beginning they will state their authority in enacting the law, and it is nearly always the commerce clause. I’m sure they even reckon that just because your computer is hooked up to the internet, and therefore has contact with other computers in other States, that they then would have the constitutional right of regulating your computer, and thereby your internet communications; they are out of control. jbranstetter04 Federal obligations exceed world GDP Does $65.5 trillion terrify anyone yet? As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plot, the American public is largely unaware that the right deficit of the federal government already is …
@Excidium567 that wouldn’t surprise me at all. I reckon the US is with intent building calculated debt for that reason too.
If the US Government pegged the dollar back to silver and or gold they wouldn’t be able to print themselves out of debt, has anyone considered thats in fact their plot to hyperinflate? So they get can pay their creditors with what’s effectively toilet paper then say “Oh my we need to fix our currency” Then their role out the Amero backed by silver and gold repegged at a new value.
My be holes in that theory I don’t know, please give me your opinion on my thoughts.
If you spent $1million dollars a day from the day Jesus was born, you’d still need another 700 years to hit a trillion. Times that by x13 and you’ll have our inhabitant debt.
@jwang604 lol it’s in fact simpler to thrive without an army, but that is if no one else had an army. the monkeys we select as politicians are too dumb to see that services spending needs to be directed into health care, education. humanity as a whole would do much better without any services expenditure, but frankly that’s not going to happen anytime soon. be ready for ww3 my friend
@oculist2020 very well place mate
@jwang604 I would say that the lack of government intervetion is not the culprit. I would say the ability of private institutions to intervene in government is the culprit. Clearly so.
For every Nike Shoes sold in the US for $150, the Chinese government and the Colorless House get tax revenues. Assuming the shoes was made in China for $10 bucks (10% GST), Chinese government would receive $1 and the Colorless House $14 ($140 @ 10%.) FYI, the US should have saved 1400% more than what the Chinese government have at any given moment.
Q: where’s the bread? Afghanistan? FED bankers?
(Mainstream media has successfully deflect your attention away by feeding you with hatred towards China.)
@alexkvaskov You are talking about a Utopia. Back to reality now. Show me an instance where a nation thrived without an army. End of discussion.
@jwang604 Well too terrible because humans can do without weapons and constantly improving methods of destroying each other.
@alexkvaskov Russia’s services spending was 25% of GDP, US’s spending is only 7%? Are you dumb? The Defense budget is necessary for the sustainability of the US in the world stage. There is a reason why the US is the most powerful country in the fucking world. And the 650 billion dollars isn’t going to cause the collapse, EVER! it’s only 650$ billion and the US is the major exporter in Arm trade. Be realistic!! no Country will ever give up their defense budget!! ****!
@alexkvaskov The Chinese wouldn’t have a single clue as to what to do with a mortgage firm or a bank holding company. The financial sector accounts for around 80% of GDP, there is no way you can “LET EVERYTHING COLLAPSE” because the whole US will collapse along with the world economy. Don’t be naive. The subprime crisis is all about greed and has nothing to do with efficiency. Lack of government intercession is the culprit
@jwang604
How does spending 650 billion on defense while you have 15 trillion government debt signal to you? Are you as dumb as you look? The US will collapse because of the same reason as the USSR, too much services spending and prioritization of politics before economy.
@jwang604 This recession is “mild” because of Obama’s rapid money printing, destroying the integrity of the US dollar. It would have been in america’s best interests to let everything collapse and change hands (large, inefficient US corporations would have been bought by Chinese firms and turned around)
@BlindandGore We all know the US media is nothing but Dread mongering propaganda. There is no proof that the US is in 78$ Trillion debt too. it’s simple logic, the more debased the US currency is, the less it will have to pay back. Other implications are increase in exports, lower in interest rates and increase in foreign investments. There will be a rebound in the value of the US dollar. 78$ trillion is pure speculation.
@alexkvaskov Go study US history, the fantastic depression was 10 times worse. The defense budget is only 700 billion a fraction of what US owes. are you that dumb? Their foreign policy has nothing do with the subprime crisis. You have no clue what you are talking about.
@jwang604 omg you are telling me its a propaganda by the american news and media what type of thought you have there, your proclamation is just your side of view except you have proof that you can really convince me and it must be from a very dependable source.
@jwang604 LOL the US is collapsing before our eyes. The defense budgets and oppressive foreign policy are what’s bringing the US down
@alexkvaskov The US will never collapse, it will invade other nations before it collapses and there’s nothing NATO or the world can do about it. Absoultely nothing, a prime example would be Iraq. No war crimes has ever been held against the US even when the invasion violated the UN Charter. Stop talking about the Services budget, it’s what’s giving US the absolute advantage over other nations. Got it?
@alexkvaskov The US has more than 1000 services bases in 63 countries all over the world. It gives them a strategic advantage, a touch you will never know. it’s not even about money, the savings does not even start to compare with the losses it will incur if they completely withdraw from their services operations. Once again, it’s not simple as saving 700$ billion a year as you force reckon.
@jwang604 By withdrawing US troops from every country that currently has them and reductions in the US defense budget will help save much needed money and reduce tensions between the US and countries that **** it.
@jwang604 Yes I know the US is the most despised country, and the blame lies with the US government for that unfortunate position. By invading other countries you will be despised even more and when the US can irrevocably no longer support their services expenditure, the regimes they’ve set up will collapse and turn against them.
@alexkvaskov it’s a fact that USA is the most despised country in the world. By completely eliminating the Services budget, like you suggest, the US will lose all of it’s services bases strategically stationed all over the world. That would be suicidal. It is a fact throughout history that a country will invade another nation when it runs out of resources. World peace is the least of the US’s interest if it is on the verge of collapse.
@alexkvaskov “because of their cheap labor allowing them to end competition from expensive, ineffective western labor” yeah but the majority of the manufacturers in China are owned by foreign companies. So the profits all goes back to the US. ie, Apple Inc, an American Corporation, produces their iphones in China because of their cheap labor.
@alexkvaskov “why are you insisting that the us sell services technology to everyone?” Because that’s what they have been doing? it’s called the Arms trade, every country does it, not just the US lols. “you do realize that selling services technology to other countries INCREASES their opponent capabilities” Not really. The best toys are obviously reserved only for themselves. common significance. Don’t be naive, the US have been systematically taking over countries ie Iraq, Afghan etc.
Trillion is the new billion.