How will the U.S. deal with soaring debt?

Discussion in 'Current Events' started by david85282, Aug 24, 2009.

  1. david85282
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    david85282 Rookie

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    Noted economist Arnold Kling examined several alternatives for the United States to deal with its soaring debt, and assigned probabilities to each scenario.

    According to Kling, there is a 25 percent chance that the government will make policy changes. These changes will include....

    LINK: How will the U.S. deal with soaring debt?
     
  2. WillowTree
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    WillowTree Diamond Member

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    the obamessiah will just order bernanke to print more money. wassamatterwityou?
     
  3. DiamondDave
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    DiamondDave Army Vet

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    How will they deal with it? They won't

    How SHOULD they deal with it? Start reducing the size and scope of government, eliminate entitlements, and eliminate the gobs and gobs of ridiculous government spending on useless bullshit
     
  4. froggy
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    froggy Gold Member

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    we forgive everyone elses debt why can't we forgive our own.
     
  5. dilloduck
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    dilloduck Diamond Member

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    Because the people we owe it to might get pissed ? :lol:
     
  6. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    You manage the debt just like you manage your family finances - just on a bigger scale. Cut up the credit cards, stick to and follow a strict budget, don't spend money on anything that isn't really necessary, if you can't pay cash for it, you don't need it, stay home on the weekends, quit buying things you don't need, etc., etc., etc.
     
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  7. caela
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    caela Member

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    You expect the gov't to start spending responsibly?!! How would they get re-elected if they couldn't promise their consitituents all those pork filled bulls to build bridges to nowhere???
     
  8. Xenophon
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    Xenophon Gone and forgotten

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    This is all coming to a head.
     
  9. garyd
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    garyd Senior Member

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    Yep and it will almost certainly explode. We are looking down the road at hyper inflation and or depression probably both because the clueles morons currently running things re under the bizarre impression that people just can't get buy without ever more government spending rules and regulations, almost all of which either directly or indirectly caused this current mess.
     
  10. KittenKoder
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    KittenKoder Senior Member

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    Okay, here's the plan ... we owe money to ... let's say Japan. So ... we raise taxes to pay that off, spend more money on pet projects, and borrow more from .... let's say India ... that seems to have worked the last 20 odd years so why stop now?
     

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