Approaching 19,000,000,000,000 debt. solutions?

Assuming you are actually talking about the national debt and not the defecit the following would probably eliminate the annual defecit and thus gradually reduce the debt.
1) stop having silly wars and make congressional approval of any future wars a requirement.
2) raise taxes back to the levels they were when the GDP was growing at a decent rate.
3) cut military spending to a level equivalent to the rest of the developed world
4) adopt a single payer healthcare system
5) have a lifetime cap on Medicare.
6) eliminate favorable tax treatment of hedge funds
7) tax capital gains the same as other income
eliminate the war on drugs. Legalize, tax, and control all distribution of recreational drugs.
9) eliminate caps on amount of income subject to SS and Medicare taxes.

 

Now don't cha be worrying there Jimmy, there are two simple solutions our trusty old pal, federal government uses to get us out of one quagmire after another:

A. Print more.

B. Borrow more.

 

Your recommendations would have the opposite effect.

Steve

 

Please explain in detail why you could possibly believe my proposals would raise debt. Use historical evidence or evidence from other countries rather than opinion

And forget using the Laffer curve since their is no actual evidence for its validity.

 

God, the US owes 2111.11111111 times the number of people in the entire world... for so long they've been at the top of the chain, the largest import/export and one of the richest in the world, and yet they can never seem to lower their debt... what can they do about it? I have no idea, it's to that point where their country probably should be foreclosed!

 

There are two ways: cut spending, or raise revenue. And there we go! We have now exitted the realm of fact and moved into that of preference. Which of the above avenues you take is up to you. I choose to cut spending, many others choose to raise revenue.

Either solves the problem.

 

And lets not forget that Obama and the democrats OWN almost half of the 19 TRILLION DOLLARS!!!!!!

 

And doing both will do it quicker.

 

The best way is to encourage economic growth, as stated above.

Steve

 

Absolutely. That was a lightning fast reply by the way, I clicked post then went back to the homepage, and you had already commented!

 

No, Atlantic City went bankrupt, Trump made billions.

See, Trump is a winner. Like Tom Brady, sometimes you gotta be a jerk, in order to win.

Dont worry, you can still love hillarys lies, she just wont be president when she tells them....

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No, I completely disagree.

Telling a willing audience what they want to hear is what obama and hillary do.

Trump makes money, and thats exactly what America needs right now.

 

Oh, and stop buying random crap and use that money to pay off the money they owe. Americans have a serious issue when it comes to buying things they don't need in vast quantities, for example: WHO EATS A QUARTER POUND BURGER!?! America, that's who. They don't need to posses trillions of trillions of gallons of oil, SPEND THAT ON ECO FRIENDLY CARS. This is the problem I see with US politics, anything that will not have an automatic effect can't get done, it never gets out of congress.

 

Well, the clear answer is to spend only what you take in. This means passing a balanced budget and everyone living in the real world. Problem is that many Americans think money grows on trees and their government promised benefits are owed to them, damn the future of the country.

 

I will point out that no matter who is in the white house owns that 19 trillion dollars, Obama is out of luck after his term, and that 19 trillion goes to the next guy in the office.

 

1) Reduce federal spending, leaving more money in private hands, increasing economic growth. That will both reduce fedgov costs while raising revenues.

2) Freeze MB (monetary base) at current level and gradually transition to a free banking system. This will curtail the boom bust cycle brought on by federal reserve intervention, allowing for economic growth, resulting in higher revenues.

 

No.

Mr Bush's reckless tax cuts did. The recession after the Dot com boom was relatively minor, and the federal budget remained in surplus until after Bush's tax cuts were enacted.

But October of 2001, less than 30 days after 9/11, the Federal government was running a deficit.

Then Bush decided to start a war,

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a

Well said! You have to be pretty dumb to bankrupt a license to print money!

 

Again, you have it backwards. The recession would have worsened without Bush's tax cuts. It almost double-dipped in 2001 and 2002. I wrote an economics book regarding much of this back then and dedicated it in memory of the 9-11 lost lives.

AND, the war had already started without Bush's declaration. In fact, Clinton was ignoring it for his successor. This is the same logic we have TODAY with Obama thinking the war is over simply because he says so. That logic is pure ignorance of how the real world exists.

Steve

 

Atlantic City wasn't going broke when Trump walked away from his deals. That is not true at all. Atlantic City's problems came nearly 20 years later.

Trump's bankrupcy left employees displaced, vendors and subcontractors unpaid and loans defaulted on.

He hid behind the bankrupcy laws to screw all the little guys who built him his casino.

You're next.

 

Your Imperial majesty, obama, displaced nurses doctors, and entire hospitals for obamacare, and you cheered the whole time.

save it.

 

All of your claims are false.

The Bush tax cuts were widely expected to produce deficits even without 9/11. Those predictions came true.

When the economy recovered and the speculative boom that Bush's reckless regulatory and banking policies touched off, the deficts remained, and remain to this day.

Of course, by that time, he was playing his shell game with "off the books" accounting for his equally reckless and disasterous
war.

Clinton was placing increased emphasis on the need to do something about Al Quida before Bush became President.

Bush demoted the top anti terrorism official in the administration and reluctantly set up a task force to "study" the matter. It existed on paper, but Cheney was so uninterested in it that it didn't hold , its first meeting till September 10th.

Meanwhile the Bush Justice Department proposed CUTTING funding for anti terrorist activity and (as we know now) the Administration dismissed warnings about attacks in US soil.

Bush also failed to respond to the USS Cole attack, once it was determined that it was an Al Quida operation (which determination was made only AFTER he became president)

Two months before 9/11, Bush gave $40 million to the Taliban.

It's fashionable for conservative to rewrite history when their schemes don't work. One of the current conservative lines is to take credit for debt management away from Bill Clinton and assign it to the GOP Congress. Of course, this is exactly the same GOP Congress that couldn't wait to rubber stamp tax cuts that erased the surplus right after the election.

Supply side economics tripled the national debt in the Reagan years, and doubled it again in the George W Bush years. It also distorted income distribution in the US creating a wider gap than at any time since the 1920's, and a gap far worse than any other industrialized country. You can manufacture all the spin you want, but the figures speak for themselves.

And Barack Obama has never said the war was over.

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This is what right wingers do when they get called out for making stuff up.

BTW,. the trend in rural hospital and clinic closings was well under way before the ACA was passed.

 

TomFitz, you have a very distorted view of reality that fits well with the democrat party.

Steve

 

This is what left wingers do when they get called out for making stuff up....

They tell lies and never back up their claims with sources, and facts.

Rural hospitals in critical condition

Since the beginning of 2010, 43 rural hospitals — with a total of more than 1,500 beds — have closed, according to data from the North Carolina Rural Health Research Program. The pace of closures has quickened: from 3 in 2010 to 13 in 2013, and 12 already this year. Georgia alone has lost five rural hospitals since 2012, and at least six more are teetering on the brink of collapse. Each of the state's closed hospitals served about 10,000 people — a lot for remaining area hospitals to absorb.

The Affordable Care Act was designed to improve access to health care for all Americans and will give them another chance at getting health insurance during open enrollment starting this Saturday. But critics say the ACA is also accelerating the demise of rural outposts that cater to many of society's most vulnerable. These hospitals treat some of the sickest and poorest patients — those least aware of how to stay healthy. Hospital officials contend that the law's penalties for having to re-admit patients soon after they're released are impossible to avoid and create a crushing burden.

 

Stop paying the Federal Reserve Bank for our money. Much of that debt is interest. Congress has the Constitutional right to create money without the private FRB.
Erase that number and replace it with a 0. Declare it paid in full. Since money is created out of nothing, we can always create more. This was a suggestion by a jew. Erase it every 7 years and start over.

 

reread post 3

 

But--------------the national debt was at approx 10 trillion when Obama got elected, now it is at approx 19 trillion and will probably be higher when he leaves office. As I say Obama and the democrats OWNS almost HALF of the national debt, and pushed it up by 9 trillion or more in his 8 years in office. What that means is Obama has blown almost as much as Bush, and all the other presidents combined. That is a pathetic record.