Though I fully realize how tempting it is to exaggerate the US debt issue, our debt is certainly not unresolveable. The range of solutions is simply sufficiently politically unpalatable, especially in the current political climate, that major fixes would not be put into place until the problem becomes acute. Some of the solutions include:
- Letting all Bush tax cuts expire. We did just fine with those tax rates in the past, we can again, while significantly helping the budget
- Pinning Social Security and government pension payment increases to cost of living increase, while gradually increasing the age of full benefits to 70.
- Reducing Medicare costs by having people take up some part of the burden or placing some limits on care, as private insurers do. This is contraversial since it means that some might be deprived of lifesaving procedures at the end of their lives. However, with medical developments and up to millions of dollars in medical expenses, one can often extend a persons life by, say, another year. The question we have to ask ourselves is how much public money we are willing to spend as a society to keep someone alive for another year - an average of $100,000? $1 million? I say this with full understanding that my care could be rationed someday as well.
- Assess the range of potential dangers to the US, along with benefits of US influence, and scale military spending appropriately, or let it grow more slowly with time.
- Other tax or spending reforms
Anyway, there are many potential answers (including many not listed). The problem with nearly all of them is that they require sacrifice, so they are politically unpalatable by one side or the other.
Topic: US National Debt / Deficit - How does it end? - page 10. (Read 9021 times)
Well, all these stories tend to end the same...with the country being taken over. I think the more important question is what that timeline is. In my honest opinion, we are probably further out from "the end" to the point where you or I will not be around. With that said, we certainly will have some big declines within the next 20-40 years. Currently 100% of the revenue generated goes towards paying old people, paying sick people, paying interest on debt, and paying people to XXXX up and/or rebuild another country. At the state level, another 25% of the revenue goes towards helping sick people. Unfortunately, you get to a point where you aren't just helping people who need it, you are creating a small work force with a large entitled force. Slowly this degrades the economy, you end up with huge disparities in income, and the nation begins to cave in on itself. Take a look at Greece and most of the EU as an example of where we will be in 20 years. After awhile you just become so weak that anyone can just walk all over you. It happens with all nations but it takes a long long time.
So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
I will be a lot faster this time as information travel fast and transportation technology now allow an entire industry to move offshore in a matter of months.
If you think this will take 20 years, it will probably be over in 5 years.
Prophet John Paul Jackson on the next Ten Years in America
http://sidroth.org/television/tv-archives/john-paul-jackson
Interesting link . I'm not one to put much faith in faith. But that's a debate for another threadhttp://sidroth.org/television/tv-archives/john-paul-jackson
I guess there aren't as many people here concern with the possibility of our nation going bankrupt as I thought there would be. Or maybe there are and they just aren't sure what to believe about how soon we could see such a collapse or what a collapse would entail.
Well, all these stories tend to end the same...with the country being taken over. I think the more important question is what that timeline is. In my honest opinion, we are probably further out from "the end" to the point where you or I will not be around. With that said, we certainly will have some big declines within the next 20-40 years. Currently 100% of the revenue generated goes towards paying old people, paying sick people, paying interest on debt, and paying people to XXXX up and/or rebuild another country. At the state level, another 25% of the revenue goes towards helping sick people. Unfortunately, you get to a point where you aren't just helping people who need it, you are creating a small work force with a large entitled force. Slowly this degrades the economy, you end up with huge disparities in income, and the nation begins to cave in on itself. Take a look at Greece and most of the EU as an example of where we will be in 20 years. After awhile you just become so weak that anyone can just walk all over you. It happens with all nations but it takes a long long time.
So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
Think we'll actually make it another 20 years like this? I'd be all too happy if we somehow could manage that. I expect changes in our level of technology to bail us out if we can manage to make it that far. I just suspect the problem is much more imminent. So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
Also the fact that we have, by far the strongest military in the world, we could easily invade a resource rich country, and start to sell their resources for our own benefit.
Prophet John Paul Jackson on the next Ten Years in America
http://sidroth.org/television/tv-archives/john-paul-jackson
http://sidroth.org/television/tv-archives/john-paul-jackson
Well, all these stories tend to end the same...with the country being taken over. I think the more important question is what that timeline is. In my honest opinion, we are probably further out from "the end" to the point where you or I will not be around. With that said, we certainly will have some big declines within the next 20-40 years. Currently 100% of the revenue generated goes towards paying old people, paying sick people, paying interest on debt, and paying people to XXXX up and/or rebuild another country. At the state level, another 25% of the revenue goes towards helping sick people. Unfortunately, you get to a point where you aren't just helping people who need it, you are creating a small work force with a large entitled force. Slowly this degrades the economy, you end up with huge disparities in income, and the nation begins to cave in on itself. Take a look at Greece and most of the EU as an example of where we will be in 20 years. After awhile you just become so weak that anyone can just walk all over you. It happens with all nations but it takes a long long time.
So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
Think we'll actually make it another 20 years like this? I'd be all too happy if we somehow could manage that. I expect changes in our level of technology to bail us out if we can manage to make it that far. I just suspect the problem is much more imminent. So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
Well, all these stories tend to end the same...with the country being taken over. I think the more important question is what that timeline is. In my honest opinion, we are probably further out from "the end" to the point where you or I will not be around. With that said, we certainly will have some big declines within the next 20-40 years. Currently 100% of the revenue generated goes towards paying old people, paying sick people, paying interest on debt, and paying people to XXXX up and/or rebuild another country. At the state level, another 25% of the revenue goes towards helping sick people. Unfortunately, you get to a point where you aren't just helping people who need it, you are creating a small work force with a large entitled force. Slowly this degrades the economy, you end up with huge disparities in income, and the nation begins to cave in on itself. Take a look at Greece and most of the EU as an example of where we will be in 20 years. After awhile you just become so weak that anyone can just walk all over you. It happens with all nations but it takes a long long time.
So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
Think we'll actually make it another 20 years like this? I'd be all too happy if we somehow could manage that. I expect changes in our level of technology to bail us out if we can manage to make it that far. I just suspect the problem is much more imminent. So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
Well, all these stories tend to end the same...with the country being taken over. I think the more important question is what that timeline is. In my honest opinion, we are probably further out from "the end" to the point where you or I will not be around. With that said, we certainly will have some big declines within the next 20-40 years. Currently 100% of the revenue generated goes towards paying old people, paying sick people, paying interest on debt, and paying people to XXXX up and/or rebuild another country. At the state level, another 25% of the revenue goes towards helping sick people. Unfortunately, you get to a point where you aren't just helping people who need it, you are creating a small work force with a large entitled force. Slowly this degrades the economy, you end up with huge disparities in income, and the nation begins to cave in on itself. Take a look at Greece and most of the EU as an example of where we will be in 20 years. After awhile you just become so weak that anyone can just walk all over you. It happens with all nations but it takes a long long time.
So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
So in short, we'll stumble along for awhile and eventually go the way of the dinosaur.
The debt is IMPOSSIBLE to pay. They will keep printing and printing and printing until the money magic making machine explodes, aka crash, aka BTC goes several moons. What is fascinating is how long they have keep doing this shit and things are still somewhat normal. We'll see how far does the rabbit hole go.
I have a lot of my own thoughts and fears about where the US national debt is leading our nation and the world. I feel like I’ve done enough of my own studying to have a good understanding of what the likely outcome(s) are but want to get some perspective from other well informed individuals here on bitcointalk.
My conclusion is that the US debt is already so out of control that it will just keep rising until we either default on our loans or we enter a period of rapid inflation as we try to pull a Weimar Republic and print our way out of debt. Maybe someone will contradict this conclusion but I think that the majority will agree that the US financial collapse is beyond preventing at this point even if it is for different reasons than my own.
The real area of interest to me is how does this end? I’ve been reading the book “Patriots” which I believe is the darkest possible scenario for a post economic collapse US. The collapse I am more inclined to believe in is that we’ll face hyperinflation for a short period until the deficit is effectively paid off and during this time our economy will become a basket case. Critical services (electricity, police, firemen, most businesses), communication (Internet, TV, newspapers), and our government will continue to function throughout. The chaos will be at its worst for a matter of months. The worst hit will be the poor who depend on services that may fail such as welfare, food stamps, and other entitlements. There will be regional violence but nothing large scale or long lasting. The loss of life due to things relating to the collapse will number in the thousands or maybe tens of thousands but certainly not millions.
What is everyone else’s view on just how this could play out? Or perhaps are there any who believe this sort of collapse will just never happen?
My conclusion is that the US debt is already so out of control that it will just keep rising until we either default on our loans or we enter a period of rapid inflation as we try to pull a Weimar Republic and print our way out of debt. Maybe someone will contradict this conclusion but I think that the majority will agree that the US financial collapse is beyond preventing at this point even if it is for different reasons than my own.
The real area of interest to me is how does this end? I’ve been reading the book “Patriots” which I believe is the darkest possible scenario for a post economic collapse US. The collapse I am more inclined to believe in is that we’ll face hyperinflation for a short period until the deficit is effectively paid off and during this time our economy will become a basket case. Critical services (electricity, police, firemen, most businesses), communication (Internet, TV, newspapers), and our government will continue to function throughout. The chaos will be at its worst for a matter of months. The worst hit will be the poor who depend on services that may fail such as welfare, food stamps, and other entitlements. There will be regional violence but nothing large scale or long lasting. The loss of life due to things relating to the collapse will number in the thousands or maybe tens of thousands but certainly not millions.
What is everyone else’s view on just how this could play out? Or perhaps are there any who believe this sort of collapse will just never happen?
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