where to begin....
well you're right about the debt. It would only be possible to pay it back in a few lifetimes if the country continued to prosper but we didn't expect to live any better than an average Palestinian, or tribe in Afghanistan. But with verbosity aside....
fist a deficit is a lack of quantity to complete an action...one of many definitions
a debt is something owed...an obligation to pay
If the government had a debt of one hundred dollars and took in a hundred dollars a year you would expect them at some point to start paying off their debt. You would be wrong......As near as I can tell the U. S. has been running deficits from the 1920's. These deficits add to the debt every year. Now deficits by themselves are not bad fiscal policy in and of themselves if in running deficits you paid down the "debt".
This is possible if you pay more to the debt than the size of the deficit you run.
so you owe $100....you take in $100....you pay $20 of the hundred to the debt.....oops you find you spent $110 this year. Well yes you ran a deficit but you paid down some debt....you only owe $90 dollars.
do this for ten years and you will owe nothing, so the ten years of deficit didn't hurt you at all. It just took twice as long to pay off the debt....not a good policy.
Well back to our government...It does not pay it's debts, it borrows money to pay its bills as it goes. When the borrowed money is due to be paid, it just borrows more to pay them off... these loans are known as treasury bills. It does this not because it is run by cretins... well maybe it is... but because it has not balanced a budget for the last 80 years. The US owes so much debt now that if it paid fifty percent of it's tax intake a year of $4 trillion dollars...that's high but we'll go with it....It would take 7.5 years to pay off it's debt.
This is bullshit.....the future obligations, SS medicare and caid are presently around $50 trillion....oh yeah we hear everyday that SS is solvent till when 2020.....what then, there is no more obligations or it just can't fund itself. Well you know that scenario about paying fifty percent of the budget ..tax intake to pay off the debt.....well 60% of our yearly spending is for those three programs...so either you cut future payments and reduce the intake because you're not going to pay in the future...fat chance...or you just keep borrowing till the country collapses....look for a collapse, it is not possible to pay our debts and future obligations and have the present government and society that we now have.....so where does that leave those who lived a responsible life....Those that saved for retirement, paid their bills....did not borrow themselves into the tank.....we'll surprise!! all you responsible people you're in the same boat as the unwashed, unlearned, uninformed....you're screwed....your SS is gone your retirement investments are worth zero, your dollar bills are worthless...remember Germany in 1946...$1 million marks for a loaf of bread. Get ready....soon, no,but sooner than you think.
Why do you think 435 reps and 100 sen, the pres. and all the experts from the ivy league and other institutions can't solve our problems .....well even a fifth grader can figure that out......they can't, it's not possible and those in charge know it.....BUT there is a solution......don't raise the debt ceiling ,...go bankrupt and just start over....sound unlikely, think Europe.... Greece there but for Germany, you think the Germans are altruistic.... no, they know that if Greece goes so will Portugal, Ireland , Italy, maybe a few more.....eventually they will go.....percentage wise...the European budgets....are worse than ours even with the inflow from the French and the Germans.... I believe the US sees this and figures this is their saving grace....If Europe goes we will certainly go....with no one but themselves to sell to the Chinese will tank....especially if Euro and the US don't pay what's owed and doesn't buy from them. Think Oct 1929 till Dec.1941. The Us spent more than it took in from 1929 until the present day....
Remember the NRA the national recovery act, the Marshall Plan ,the Veterans programs probably not if you weren't already in school by the sixties...History is a forgotten subject, so is geography, government, civics, math...what do they teach today??? That's for another rant as you would say...
All the give away Government programs solved the short term problems but ruined us in the long term...
One last question....how can you possible pay the US debts with our present tax intake and what is owed....you can't, and you can't tax your way to solvency, you have to stop spending....get ready for some pain.......
As you can see and have done yourself in your rants it's easy to get off on a tangent... this isn't the clearest rant but you can work out the bumps and get what I think is going to happen.
your sometimes...
circumlocutory..periphrastic.. pleonastic..prescient..verbose. tautology affected brother J
I love your rants. they clarify.
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