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

[david85282]

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?

 

[WillowTree]

the obamessiah will just order bernanke to print more money. wassamatterwityou?

 

[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

 

[froggy]

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

we forgive everyone elses debt why can't we forgive our own.

 

[dilloduck]

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

we forgive everyone elses debt why can't we forgive our own.

Because the people we owe it to might get pissed ?

 

[Big Black Dog]

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.

 

[caela]

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.

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???

 

[Xenophon]

This is all coming to a head.

 

[garyd]

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.

 

[KittenKoder]

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?

 

[Xenophon]

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?

I know your question is rhetorical, but for the many who don't understand, nobody is willing to lend it to us because we don't pay it back.

 

[KittenKoder]

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?

I know your question is rhetorical, but for the many who don't understand, nobody is willing to lend it to us because we don't pay it back.

I think there are still a few enough stupid enough to think we will ... but that will be fun (sarcasm) when they realize we can't pay it back to.

 

[garyd]

You can only use one credit card to pay off another for so long...

 

[Terry]

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?

I know your question is rhetorical, but for the many who don't understand, nobody is willing to lend it to us because we don't pay it back.

I think there are still a few enough stupid enough to think we will ... but that will be fun (sarcasm) when they realize we can't pay it back to.

KK it's like our Gov has 50 credit cards maxed out and not paying the bills...they have fooled some banks but now that door is shut. Now what? We all are screwed.

 

[garyd]

Trouble is every where else is running out of cash as well. The only Nation among the top twenty economies that has any extra cash at the moment is China and they can't finace all of the spend throft governments in the west simultaneously.

 

[KittenKoder]

I know your question is rhetorical, but for the many who don't understand, nobody is willing to lend it to us because we don't pay it back.

I think there are still a few enough stupid enough to think we will ... but that will be fun (sarcasm) when they realize we can't pay it back to.

KK it's like our Gov has 50 credit cards maxed out and not paying the bills...they have fooled some banks but now that door is shut. Now what? We all are screwed.

Purty much ... as I say, may as well get started learning Japanese ... most likely that's the country that will get my state.

 

[Chris]

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.

 

[garyd]

The we can't borrow any more money from them...

 

[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.

How very Republican of you.

 

[Chris]

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.

How very Republican of you.

Thank you.

The Republican Party used to stand for something before Reagan screwed it up.