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KY, USA
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Posted: 5/10/2024 5:01:55 PM EDT
[#1]
I have no doubt but the American people would revolt because of doing without to make it happen.
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OH, USA
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Posted: 5/10/2024 5:02:30 PM EDT
[Last Edit: HungLo]
[#2]
A trillion is number that is hard to comprehend.
A stack of trillion $1 bills would wrap around the equator about one and a half times. Multiple that by whatever today’s trillions nation debt is. Mind boggling really. |
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Posted: 5/10/2024 5:07:53 PM EDT
[Last Edit: SS65]
[#3]
Quote HistoryOriginally Posted By Lorax: People underestimate how strong fundamentally our economy really is. Look how they tried to break it during Covid. Pelosi and Co knew the only way to bring Trump down was to work with Fauci and the "experts", crash the economy by shutting it down and trying their hardest to try and keep it shut down. And they still couldnt do it half as bad as they wanted to. Become energy independent, make stuff here and buy it. Bust the unions, secure the border, cut the waste and fraud, and let the welfare state fend for themselves or get off their asses. Make politicians work and balance the budget or else. Reduce govt staff by 25%. Strengthen our court system to jail the criminal and corrupt and it may be accomplished over time. 1) End baseline budgeting and limit any departments budget increases to 2%. Exceptions: A) Military B) Social Security and Medicare/Medicaid limited to rate of inflation 2.) Every department must justify their budget. 3) Identify programs that are beyond the Constitutional role of the Federal government and eliminate or block grant back to the states as many as possible. As previously stated it's not necessary to pay it off. Just balance the budget and gradually reduce it while growing the economy. |
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IN, USA
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Posted: 5/10/2024 5:15:03 PM EDT
[#4]
According to the US debt clock each taxpayer just needs to write a check for 267k.
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Posted: 5/10/2024 5:18:11 PM EDT
[#5]
Quote HistoryOriginally Posted By happycynic: If you simply freeze spending at current levels for a few years, the deficit problem would go down dramatically. The goal isn't to pay off the debt, the goal is ultimately to create an economy strong enough that the debt isn't an issue. This. Budget cuts defined by Congress are not cuts. They only lower the rate of increased spending. If we simply froze spending levels, the problem would fix itself in 15 years. |
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Posted: 5/10/2024 5:18:12 PM EDT
[#6]
Quote HistoryOriginally Posted By FreefallRet: Simple No more spending overseas except military. 10 yr set budget, locked in and no increases in spending. Five year lifetime limit for welfare, eliminate SDI/SSDI for anyone under 40yrs old. welfare no longer funded by the government, funding is provided by states and they set their own rules. No federal money for immigrants. No more federal college loans or grants to colleges. Only fed college assistance goes to military only. every bill that gets put forward has to be a single issue bill. That would prevent a lot of pork. |
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UT, USA
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Posted: 5/10/2024 5:19:35 PM EDT
[#7]
They can inflate the fuck out of the currency and pay it off with much cheaper money
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Posted: 5/10/2024 5:21:20 PM EDT
[#8]
Quote HistoryOriginally Posted By happycynic: You don't need to pay it off, just deal with the continued deficits and inflation/growth takes care of the rest. U.S. Debt in 1980 = 970 billion. U.S. Receipts in 2023 = 4.6 trillion. If we had just kept a balanced budget from 1980 to today, the deficit would be an insignificant footnote. We could do the same thing today if we just stop adding to the debt. If we just did the impossible thing, the impossible problem would be fixed. |
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Posted: 5/10/2024 5:21:51 PM EDT
[#9]
Quote HistoryOriginally Posted By Caddys83: All hotels and airbnb increase tax by 5% Domestic plane travel increase tax by 5% All tire and oil disposal increase $1 Vending machine snacks increase by .5 Gas station Convince store merchandise increase by 3% Women menstrual care increase by $1 Turnpike increase $2 Restaurant soda increase $1 White bread increase $1 using food stamp? Increase by $2 Lotto increase by $1 Cookies at grocery store increase by $1 using food stamp? Increase by $2 What else? The political will to do all of that |
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Posted: 5/10/2024 5:23:41 PM EDT
[Last Edit: C-4]
[#10]
Originally Posted By iwouldntknow: You can't prove me wrong. You can't post a credible plan to pay off the national debt. Our economy is based on debt consumption and it won't stop until it collapses, so everyone kicks the can. How's your 401K doing this month? You’re asking the wrong question. You should ask, “How is your ammo fort doing?” 
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Posted: 5/10/2024 5:25:24 PM EDT
[#11]
Does anyone really think there were plans to pay it off?
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GA, USA
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Posted: 5/10/2024 5:26:55 PM EDT
[#12]
That's been the plan for a long time.
What happens if we tell them to fuck off? |
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UT, USA
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Posted: 5/10/2024 5:27:54 PM EDT
[#13]
Quote HistoryOriginally Posted By StaccatoC2: Sure it could be paid off in 20 years or so, but it would be painful. Freeze spending, cut all the fluff ( mil cost plus contracts ), cut staffing aka get rid of the useless gov employees, raise taxes a little, and stop neg tax returns. Yes taxes suck but I bet most would be willing to pay an extra 1-2% if they knew it was actually paying down the debt. There is no reason why the federal government should be the nation's largest employer. |
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WA, USA
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Posted: 5/10/2024 5:29:57 PM EDT
[#14]
They could make a big cuts simply by limiting government, start with trimming the high up administrative fat out of schools. Like all of them, that are federally funded by the tax payers. Then start with all the BS governmental agencies like the EPA, the IRS and so many others. Stop sending funding to all other counties, they spend billions a year on BS studies and grants.
That said these idiots would probably create some other government entity to do it. Or Trump comes in and says "YOU'RE FIRED!" |
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Posted: 5/10/2024 5:30:37 PM EDT
[#15]
Quote HistoryOriginally Posted By mikeyb76: No. I don't get to go to my employer and say, "you're going to pay me another 10% because I overspent what I earn." The gov't needs to be cut, drastically. A small drop, but an example, would be the SCOTUS salaries. They're all making $250k+ a year, plus fantastic benefits, and not excluded from payments for books or speaking engagements. Lifetime appointment. Salary is not a perk or a job enticement. There is no reason why the federal government should be the nation's largest employer. Quote HistoryOriginally Posted By mikeyb76: Originally Posted By StaccatoC2: Sure it could be paid off in 20 years or so, but it would be painful. Freeze spending, cut all the fluff ( mil cost plus contracts ), cut staffing aka get rid of the useless gov employees, raise taxes a little, and stop neg tax returns. Yes taxes suck but I bet most would be willing to pay an extra 1-2% if they knew it was actually paying down the debt. There is no reason why the federal government should be the nation's largest employer. MICE. They should be paid well. |
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TX, USA
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Posted: 5/10/2024 5:44:28 PM EDT
[Last Edit: imagetcha]
[#16]
How much of it is held by China?
Go to war with China and cancel the debt? |
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MI, USA
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Posted: 5/10/2024 5:48:47 PM EDT
[#17]
Jim Puplava has been explaining this for years. They have a playbook, they will run the same play as before. (Assuming the country doesn't destroy itself, of course.)
Financial Repression |
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USA
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Posted: 5/10/2024 5:58:20 PM EDT
[#18]
It's all government theater anyway. Fake money goes hand in hand with the fake patriots who looted us.
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Posted: 5/10/2024 6:01:12 PM EDT
[#19]
This is true at best it can be contained, reduced slightly. Containment is best so economy outgrows the strain of payments. That’s what has gone on for years.
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CO, USA
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Posted: 5/10/2024 6:05:12 PM EDT
[Last Edit: shaneus]
[#20]
If they retired the debt tomorrow, we would all regain too much freedom.
Gotta keep labor firmly pulling into the harness. Beyond that, you cant repay debt with more debt. All that federal reserve fiat money is issued with interest owed. The US could print its own money, but see second paragraph. |
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GA, USA
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Posted: 5/10/2024 6:07:09 PM EDT
[#21]
It's like magnetism.
An unseen force that keeps the house of cards from toppling. |
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Posted: 5/10/2024 6:17:38 PM EDT
[Last Edit: StaccatoC2]
[#22]
Quote HistoryOriginally Posted By mikeyb76: No. I don't get to go to my employer and say, "you're going to pay me another 10% because I overspent what I earn." The gov't needs to be cut, drastically. A small drop, but an example, would be the SCOTUS salaries. They're all making $250k+ a year, plus fantastic benefits, and not excluded from payments for books or speaking engagements. Lifetime appointment. Salary is not a perk or a job enticement. There is no reason why the federal government should be the nation's largest employer. The 250k they get is nothing, your talking about 9 Justices. Even if you drop their salary 100k each its not even a mil savings. When you could walk in to any US dept, take the boss aside and say who are the 10% here that would not even be missed and save a bunch more. I just looked total fed gov payroll is 23 mil a month, that does not include contractors. 2.87 mil fed gov employees, which is 8k a month each average, 10% cut would cut 287k people, average at 8k a month is 96k a year each or 27 mil a year in savings. And lets be honest most of the employees that would be let go are people who have been around and learned to play the system, their pay is probably 50% more on average. So lets just round it 40 mil a year saved for people who would not even be missed. |
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Posted: 5/10/2024 6:18:41 PM EDT
[#23]
Quote HistoryOriginally Posted By grendelbane: Why pay it off? Just need to get it to a reasonable percentage of GDP. It is not rocket surgery. Agreed...... |
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Posted: 5/10/2024 6:21:20 PM EDT
[#24]
It's not hard.
Cut spending. Stop handing out money to everyone. Raise taxes to specifically pay down the det. Ask people to pay more than they own to pay down the det. Cut up the fucking credit cards and deal with it. |
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Posted: 5/10/2024 6:21:32 PM EDT
[#25]
Quote HistoryOriginally Posted By NY12ga: That's what inflation is for- paying off yesterdays' debts with "todays" dollars |
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Posted: 5/10/2024 6:32:18 PM EDT
[#26]
I can't recall exactly, but think I remember - did Slick Willy actually balance the budget when he was in office? Just thinking out loud here honestly, and not with any slant toward political party or whether I liked the guy or not.
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USA
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Posted: 5/10/2024 6:44:15 PM EDT
[#27]
step 1: acquire Amex black card
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Posted: 5/10/2024 6:46:27 PM EDT
[#28]
Quote HistoryOriginally Posted By Butternut: I can't recall exactly, but think I remember - did Slick Willy actually balance the budget when he was in office? Just thinking out loud here honestly, and not with any slant toward political party or whether I liked the guy or not. Slick Willy overtaxed us. A "budget surplus". He did have a balanced budget for 4 years while he was in office. Debt held by the public was actually paid down by $453 billion over the 1998-2001 periods. A fucking drop in the bucket. Clinton had a lot of things going for him that Bush senior would of had if the shithead hadn't reneged on his promise of "no new taxes". |
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Posted: 5/10/2024 6:49:18 PM EDT
[#29]
Quote HistoryOriginally Posted By iwouldntknow: Impossible to elect a king. Quote HistoryOriginally Posted By iwouldntknow: Originally Posted By Torf: Elect me King and I'll do it in less than a generation. Impossible to elect a king.  Attached File |
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CO, USA
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Posted: 5/10/2024 6:49:49 PM EDT
[#30]
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Posted: 5/10/2024 6:53:47 PM EDT
[#31]
Stop spending money we don't effing have on non-Americans would be a good effing start.
Thank goodness we're not participating in the Great Reset. 
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MD, USA
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Posted: 5/10/2024 6:54:13 PM EDT
[#32]
It could be repaid very simply by adopting the last Federal budget equal to current tax receipts, then cut $200 billion from that budget and amortize it over 50 years. Freeze all COLAS or inflation escalators.
Once you have one or two years of balanced budget, inflation will subside, and the Fed could start cutting interest rates. Virtuous cycle for the win. |
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Posted: 5/10/2024 6:59:05 PM EDT
[#33]
In my lifetime.. yes.
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Posted: 5/10/2024 7:06:00 PM EDT
[#34]
Quote HistoryOriginally Posted By DDDDCheapAF: I dont know , but I would like to see those fucks put half as much energy into it as they do the gay / handout bullshit . I remember it being a big issue for conservatives, now, nobody gives a fuck. |
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Posted: 5/10/2024 7:08:27 PM EDT
[#35]
Quote HistoryOriginally Posted By PiccoloPlayer: According to the US debt clock each taxpayer just needs to write a check for 267k. |
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CO, USA
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Posted: 5/10/2024 7:19:16 PM EDT
[Last Edit: missychapo]
[#36]
Country/territory US foreign-owned debt (January 2023)
Japan $1,104,400,000,000 China $859,400,000,000 United Kingdom $668,300,000,000 Belgium $331,100,000,000 Luxembourg $318,200,000,000 Switzerland $290,500,000,000 The Cayman Islands $285,300,000,000 Canada $254,100,000,000 Ireland $253,400,000,000 Taiwan $234,600,000,000 |
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Posted: 5/10/2024 7:20:43 PM EDT
[#37]
Considering that every dollar in circulation is loaned into existence by the federal reserve, with interest due, it should be fundamentally impossible to pay off the debt. To do so would result in zero dollars in circulation, and we'd still owe interest.
We're screwed, and have been since 1913. its-gonna-get-way-worse.jpg |
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CAN
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Posted: 5/10/2024 7:35:36 PM EDT
[#38]
Quote HistoryOriginally Posted By missychapo: Country/territory US foreign-owned debt (January 2023) Japan $1,104,400,000,000 China $859,400,000,000 United Kingdom $668,300,000,000 Belgium $331,100,000,000 Luxembourg $318,200,000,000 Switzerland $290,500,000,000 The Cayman Islands $285,300,000,000 Canada $254,100,000,000 Ireland $253,400,000,000 Taiwan $234,600,000,000 I have heard two things. Whether they are true or not, who knows. 1) The federal government is giving cash under the table to Denmark, Ireland and the UK to buy treasuries at auctions and keep the facade up. 2) There are many oil tankers filled to the brim leaving our ports for China because they no longer want to be paid with U.S. currency for balance of payments on trade. |
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Posted: 5/10/2024 7:36:45 PM EDT
[#39]
NO…get yours!
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Posted: 5/10/2024 7:38:54 PM EDT
[#40]
Quote HistoryOriginally Posted By Prezboi44: I have heard two things. Whether they are true or not, who knows. 1) The federal government is giving cash under the table to Denmark, Ireland and the UK to buy treasuries at auctions and keep the facade up. 2) There are many oil tankers filled to the brim leaving our ports for China because they no longer want to be paid with U.S. currency for balance of payments on trade. Sounds plausible to me. |
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Posted: 5/10/2024 7:50:32 PM EDT
[#41]
Quote HistoryOriginally Posted By KA3B: It's not hard. Cut spending. Stop handing out money to everyone. Raise taxes to specifically pay down the det. Ask people to pay more than they own to pay down the det. Cut up the fucking credit cards and deal with it. But passing those reforms is impossible. Which returns us to the original premise. |
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Posted: 5/10/2024 7:51:54 PM EDT
[#42]
Quote HistoryOriginally Posted By new_RRA_user: It could be repaid very simply by adopting the last Federal budget equal to current tax receipts, then cut $200 billion from that budget and amortize it over 50 years. Freeze all COLAS or inflation escalators. Once you have one or two years of balanced budget, inflation will subside, and the Fed could start cutting interest rates. Virtuous cycle for the win. Grandma will starve or worse, have to move in with her kids. Americans deserve a higher standard of living. Dead on arrival. |
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Posted: 5/10/2024 7:53:48 PM EDT
[#43]
Quote HistoryOriginally Posted By Hesperus: Sounds plausible to me. Quote HistoryOriginally Posted By Hesperus: Originally Posted By Prezboi44: I have heard two things. Whether they are true or not, who knows. 1) The federal government is giving cash under the table to Denmark, Ireland and the UK to buy treasuries at auctions and keep the facade up. 2) There are many oil tankers filled to the brim leaving our ports for China because they no longer want to be paid with U.S. currency for balance of payments on trade. Sounds plausible to me. It's on the internet and it fits what I want to believe. Seems true. |
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USA
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Posted: 5/10/2024 7:54:47 PM EDT
[#44]
Get the debt growth below that of GDP growth, and we eventually get to par.
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Posted: 5/10/2024 7:55:13 PM EDT
[#45]
The plan isn’t to pay it off. In fact the plan isn’t even to make it “better”. Our government bases their decisions on getting reelected every two to four years so that’s as far out as they plan anything.
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Posted: 5/10/2024 7:56:35 PM EDT
[#46]
Quote HistoryOriginally Posted By BillDuhCat: Get the debt growth below that of GDP growth, and we eventually get to par. GDP growth is government fiat printing. >return to 10 |
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MO, USA
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Posted: 5/10/2024 7:56:58 PM EDT
[#47]
Quote HistoryOriginally Posted By metalsaber: I'd probably add that SS also needs more than 40quarters of participation to withdraw benefits. every bill that gets put forward has to be a single issue bill. That would prevent a lot of pork. Limit bills to a single page. No more 4,000 page spending bills loaded with garbage and written in legalese that no human could read and understand in less than a year before voting on it. |
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Posted: 5/10/2024 7:57:14 PM EDT
[#48]
Quote HistoryOriginally Posted By HammerHammer: The plan isn’t to pay it off. In fact the plan isn’t even to make it “better”. Our government bases their decisions on getting reelected every two to four years so that’s as far out as they plan anything. Correct. Everyone will kick the can until armageddon and it's better for everyone to kick it as long as possible. |
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Posted: 5/10/2024 7:58:29 PM EDT
[#49]
Quote HistoryOriginally Posted By iwouldntknow: But passing those reforms is impossible. Which returns us to the original premise. |
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CAN
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Posted: 5/10/2024 8:00:12 PM EDT
[Last Edit: Prezboi44]
[#50]
Quote HistoryOriginally Posted By Kingdead: So why even start the thread if you are going to reject all the comments? It's already made up in your mind. Hint: His avatar. Bigger hint: Yours. 
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