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The recent election was about a CHANCE to restore fiscal solvency to the US and avoid the consequences of massive debt. It was no guarantee that Romney and Ryan would do so, but at least it was a chance. The US has no chance now.
So............................. with $22 trillion in debt when Obama leaves office, what can the US do to avoid hyperinflation and marked currency devaluation? Such consequences will lead to social instability and insures the break up of the nation.
1. Raising taxes won't do it- If we ENSLAVE EVERYONE who makes over $250K per year, we generate only $900 billion per year and still have an annual deficit
2. Confiscating property- if that happens, it will result in immediate insurrection. However, there is not enough net wealth in the US to finance all the unfunded liabilities, which approach $100 trillion.
3. VAT tax 15%- that would raise $1.3 trillion per year. However, the government does not have the will to do so and would simply spend that "extra money".
4. Print $30 trillion- The US is the only nation that could do so. This, of course, would "pay off" our debt, but would result in a collapse of the global bond market and insure a world wide financial collapse.
5. Have all nations forgive all of their current debt- good luck on that one.
We are on the path to the break up of the US, all due to fiscal insanity. Libs who respond to this thread will offer no SOLUTIONS, as there are none (with Obama in the White House for four more years). They will blame Bush.
I threw away the American flag as the nation is finished. I fly the old US flag upside down on my farm. We have been here since 1630- the efforts of my ancestors have been wasted by a bunch of greedy, lazy "citizens".
That is what you voted for- your own economic destruction.
SOLUTIONS? ANYONE?
So that is basically what will happen if the government does absolutely nothing and the economy remains the same. Makes sense. I am pretty sure the government is going to sit and stare at the wall for 4 years. I assume everyone else in the country is going to do the same thing.
Since you have given up on the country, why do you care? You already made it clear that you were upset that you lost and you took your ball home. Let the adults handle it from here.
Like I said before, there are going to have to be tax raises somewhere and spending cuts somewhere. That is common sense. The question is where to raise tax and where to cut spending.
Don't expect much from the Ron Paul crowd,...they are still living in a fantasy world of "what if"....
The only way to try to eliminate the defecit is to increase revenue while cutting government spending, and work within a budget just like American households. While we live in a dangerous world, there are certainly ample opportunities to cut our defense spending. America maintains a 1.5 million person military with over 700 military bases worldwide, so there are certainly so cuts that could be made globally without affecting national security. I believe any future war will be fought from a computer station rather than on the ground, so spend the money on technology rather than military installations.
Every American needs to pay taxes, regardless of income. I agree with your VAT, since that would be equal on everyone.
Cut the federal government bureaucracy to the bare bones, and relegate most of its activities back to the states where it belongs. Decentralize the federal government, and give the power and responsibilit back to the states.
you mean the same crooked individuals working with the same system that created the atrocious debt are suddenly going to get religion and work a budget "just like American households"? lol
I do however think they will scheme up many new ways to steal from working/productive people under the guise of reducing said debt (VAT etc.).
Rafo....can you please find a prof economist that supports Obama's stuff who is not connected to political or prof gain in result of his position, please. That way you won't need to party argue in this attempt and make a workable point for us to look at...
Seems that a link would be in order to support all of Rafo's statements.
First off, its kind of hard to "what now?" something that hasen't happened yet. We are not 22 trillion in debt.
Secondly there is history that says republicans don't know wtf they are talking about. So i'll quote an article which I find no republican supporter has anything to say to because, well....you just can't deny it. It's the cold hard truth, republicans are bad with our money.
Personal disposable income has grown nearly 6 times more under Democratic presidents
Gross Domestic Product (GDP) has grown 7 times more under Democratic presidents
Corporate profits have grown over 16% more per year under Democratic presidents (they actually declined under Republicans by an average of 4.53%/year)
Average annual compound return on the stock market has been 18 times greater under Democratic presidents (If you invested $100k for 40 years of Republican administrations you had $126k at the end, if you invested $100k for 40 years of Democrat administrations you had $3.9M at the end) Republican presidents added 2.5 times more to the national debt than Democratic presidents
The two times the economy steered into the ditch (Great Depression and Great Recession) were during Republican, laissez faire administrations
Of course- political blame- that is always helpful, as we have seen over the last 20 years.
What I am asking for is SOLUTIONS, not finger pointing. If we do not have solutions, the nation will be steered into fiscal insolvency and the current US will break up.
Here are the solutions- regardless of party
1. 15% VAT tax
2. balanced budget amendment
3. 10% of annual revenues earmarked to reduce debt
4. corporate consumption tax
These solutions will never happen under Obama (or probably any current politician), therefore our fate of fiscal insolvency and the destruction of the current US is inevitable.
Now, in the REAL world,...maybe you could answer the OP's question instead of falling back on the "it's-not-my-problem-because-I-voted-for-Paul" bullcrap,...which is something some of us predicted before the general election.
I believe in reduction in corporate tax rate, and massive elimination of tax loop-holes and deductions and subsidies which have accumulated for decades. This is actually something both parties have proposed, so it is a no-brainer. I do not think GOP will oppose it again for partisan reasons (like they did last time).
Then I think we need to cut waste in welfare and military, and close 50% or more of overseas bases, and end Afghanistan war on schedule. What I really want is Huckabee style (I know he did not invent it) fair-tax system, but it may be somewhat unrealistic.
I also support Supreme Court to review Federal Reserve to determine if it should be eliminated as unconstitutional.
you mean the same crooked individuals working with the same system that created the atrocious debt are suddenly going to get religion and work a budget "just like American households"? lol
I do however think they will scheme up many new ways to steal from working/productive people under the guise of reducing said debt (VAT etc.).
So you're saying there is no solution,....just give up?
Of course- this is what I expected. No solutions- just snide comments. Amazing, isn't it?
This is the problem- there are no solutions, therefore insolvency and the break up the Union is inevitable. Liberals are celebrating Obama's re-election and essentially dancing on the grave of the former US.
Any RATIONAL or ADULT comments or solutions?
Titles thread ''what now liberals?'' and then derides a comment for being snide?
Ha-ha.
As for the debt, it will certainly make future governments think twice before starting useless wars. Not blaming Bush, just reminding that it's important to know how we got here for future reference.
You threw away the American flag, what do you care how things turn out? Why not just sit down and enjoy the show? Your lethargic attitude towards the debt challenge indicates you don't have the work ethic, maturity or reasoning ability to contribute anything valid to the discussion.
Want to talk economics? Fine.
Want to talk about flying your flag upside down and our impending doom? Post in the survivalist section or something... a rational adult who wants to discuss the economy would have a way more level-headed approach than the emotionally-charged stuff you've delivered in this thread so far... sorry for being so blunt.
Titles thread ''what now liberals?'' and then derides a comment for being snide?
Ha-ha.
As for the debt, it will certainly make future governments think twice before starting useless wars. Not blaming Bush, just reminding that it's important to know how we got here for future reference.
You threw away the American flag, what do you care how things turn out? Why not just sit down and enjoy the show? Your lethargic attitude towards the debt challenge indicates you don't have the work ethic, maturity or reasoning ability to contribute anything valid to the discussion.
Want to talk economics? Fine.
Want to talk about flying your flag upside down and our impending doom? Post in the survivalist section or something... a rational adult who wants to discuss the economy would have a way more level-headed approach than the emotionally-charged stuff you've delivered in this thread so far... sorry for being so blunt.
Now that you have the personal observations and rants out of the way,....would you care to take a stab at the OP's question? At least Hawkeye put forth some suggestions,...a far cry from your lack thereof.
Titles thread ''what now liberals?'' and then derides a comment for being snide?
Ha-ha.
As for the debt, it will certainly make future governments think twice before starting useless wars. Not blaming Bush, just reminding that it's important to know how we got here for future reference.
You threw away the American flag, what do you care how things turn out? Why not just sit down and enjoy the show? Your lethargic attitude towards the debt challenge indicates you don't have the work ethic, maturity or reasoning ability to contribute anything valid to the discussion.
Want to talk economics? Fine.
Want to talk about flying your flag upside down and our impending doom? Post in the survivalist section or something... a rational adult who wants to discuss the economy would have a way more level-headed approach than the emotionally-charged stuff you've delivered in this thread so far... sorry for being so blunt.
nope....nothing here worth having a look at and off topic to boot.
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