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

[Dr Grump]

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

1) Start by bringing the troops back after Bush's war failed.
2) Get rid of all your bases overseas
3) Get rid of the Bush start leviathaned known as the Office of Homeland Security
4) Stop allowing rich corporations to pay little or no tax
5) Make gun owners pay for a license (heh, heh, heh)
6) Make the nationalised corporations profitable by making their CEOs accountable (and their boards) and then sell them back to the private sector, but makde sure there is more financial transparency so the govt doesn't have to bail them out AGAIN..

There, that should save some money I reckon...

 

[garyd]

Sorry gump But Germany want's our bases their economy needs the 10 to billion in revenue said bases and the service men attached to them spend their every year. A lot of other countries would be severely hurt by the US closing up shop and going home.

Let's see ending Homeland security would actually save you less tha a billion a year since virtually eveyone working for it was already a government worker before it was created. All homeland security was supposed to do is facilitate communications between the various intellgence gathering appratus already extant in America and place someone at the top whose job would primarily concern settling jurisdictional disputes.

 

[auditor0007]

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?

Simple.

We just don't pay back China.

From my understanding, 75% of our debt is held by Americans.

 

[auditor0007]

Eventually, we will just raise taxes. That will be the final solution, plain and simple. The question is whether or not we will elect representatives who will control spending so those extra taxes actually help reduce the debt long term. We will never pay down the debt, but by controlling spending, we can eventually reduce the debt as a percentage of GDP back to a reasonable amount.

 

[KittenKoder]

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?

Simple.

We just don't pay back China.

From my understanding, 75% of our debt is held by Americans.

That's where personal responsibility needs to come in ...

 

[RetiredGySgt]

Obama will pay for the debt AFTER he is out of office, haven't you been paying attention?

 

[DiamondDave]

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

1) Start by bringing the troops back after Bush's war failed.
2) Get rid of all your bases overseas
3) Get rid of the Bush start leviathaned known as the Office of Homeland Security
4) Stop allowing rich corporations to pay little or no tax
5) Make gun owners pay for a license (heh, heh, heh)
6) Make the nationalised corporations profitable by making their CEOs accountable (and their boards) and then sell them back to the private sector, but makde sure there is more financial transparency so the govt doesn't have to bail them out AGAIN..

There, that should save some money I reckon...

How about
1) Eliminate all government handouts to non tax contributors
2) Ensure that each and every dollar earned, no matter what your total income is, is taxed exactly the same for every citizen and
3) Eliminate useless government departments such as African Development Foundation, Agricultural Marketing Service, Japan-United States Friendship Commission, Peace Corps, Housing and Urban Development Department (the list goes on)
4) Stop handing out donations to foreign countries based on 'feelings'
5) Fine stupid ignorant libs like yourself for idiotic rants

 

[editec]

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?

I don't know how he quantifies the probabilities that the government will take (or not) any of the steps he outlines, but the steps he outlines certainly seem realistic.

I'd say expect higher taxes, higher inflation, and an erosion of services.

I'd say HOPE for some saner policies regarding trade policies that will encourage manufacturing in this nation.

When the American middle class is making a fair share of the american pie, and when that pie is larger because we are once again making stuff here, then our economy will truly begin to recover.

 

[raceright]

Smoke and Mirrors---Every Democrat wants someone else to pay for there debt.
Example; Obama hired 500 new OSHA inspectors under the ideals of making the work space safer Total bullshit he just wants to take more of companies profits. We are a Union company and all employee's have had the 10 hour OSHA classes, safety training provided buy the Union. We have never had a accident and relatively few minor scrapes or cuts.
We just had an abusive inspector curse at one of are crews and interrogate them as if they were criminals trying to get them to say something bad about the company. He is going to fine us because of some new paperwork that he says Obama wants us to keep in the tool boxes.
Well the joke is going to be on the Inspector and Obama. (this proves his lack of business sense and his inability to get us out of the recession)
Once they tell us the fine I'm not even going to negotiate it down so I hope its big.
I'm going to add the dollar amount of the fine plus profit and overhead to the next Public works job we estimate and guess what
we get 60 to 70 percent of the jobs we bid.
All business owners do the same thing so all you tax payers pay all
the OSHA fines weather you like it or not.
Fuckin assholes