Debate Now Approaching catastrophe

[2015]

US President Barack Obama on Sunday 16 February 2014 signed legislation to raise the upper limit of public debt. Thus, the problem of public debt, which threatens to default the United States, postponed until March 15, 2015
In the Internet found an interesting video on the subject:
THE NEXT 9 11 WILL BE IN WASHINGTON DC Video

 

[jwoodie]

When interest rates normalize, we will be paying $1 trillion per year interest on the national debt. The only solutions are to devalue our currency and/or economic growth. The former can happen all at once or gradually through inflation. Temporarily eliminating mandated COLAs is the fairest way to spread this burden, but politicians will demagogue this as "cutting aid to the poor."

The latter can only happen with low tax/pro employment policies. This has the effect of decreasing government "safety net" expenditures while, ironically, increasing tax revenues. This is a win-win solution, but politicians will demagogue it as "tax cuts for the rich."

If both of these approaches were followed, we could regain solvency in less than 10 years. Are we willing to give it a try?