Paying off the US debt mountain

Humpy · Mar 24, 2013

One must firstly consider the question - should the US even attempt to pay off it's $16.5 trillion debt ?
If the answer is NO then it will have to renege on the debt.
If the answer is YES then the question remains as to HOW ?

Maybe offerring something to write off some of the debt ? China is owed about $10 trillion. Is Hawaii or say Alaska worth that much ? The USA did buy Alaska off the Russians for a lot less.

Perhaps a 10% a year tax on savings or even wealth would raise quite a sum.

Make George Bush find it ? Even his proctologist didn't get a glimpse of that sort of sum.

gastropod · Mar 25, 2013

Quote from Humpy:

One must firstly consider the question - should the US even attempt to pay off it's $16.5 trillion debt ?
If the answer is NO then it will have to renege on the debt.
If the answer is YES then the question remains as to HOW ?

Maybe offerring something to write off some of the debt ? China is owed about $10 trillion. Is Hawaii or say Alaska worth that much ? The USA did buy Alaska off the Russians for a lot less.

Perhaps a 10% a year tax on savings or even wealth would raise quite a sum.

Make George Bush find it ? Even his proctologist didn't get a glimpse of that sort of sum.

Most of the US debt is owed to US citizens...social security, medicare, etc. Even the debt...the biggest creditor is not China, but, the US federal reserve.

To answer your question...go back to Jesus and the parable of the tenants...the tenants did not want to pay the land owner, so they killed the land owner's son...thinking if they killed the creditor...they would owe nothing...

Now do you see why a "die off" or "civil unrest" leaving millions dead...may not all be "conspiracy theory?" Kill the creditor...and you owe nothing (at least in the case of social security and medicare, etc.)

morganist · Mar 25, 2013

Quote from Humpy:

One must firstly consider the question - should the US even attempt to pay off it's $16.5 trillion debt ?
If the answer is NO then it will have to renege on the debt.
If the answer is YES then the question remains as to HOW ?

Maybe offerring something to write off some of the debt ? China is owed about $10 trillion. Is Hawaii or say Alaska worth that much ? The USA did buy Alaska off the Russians for a lot less.

Perhaps a 10% a year tax on savings or even wealth would raise quite a sum.

Make George Bush find it ? Even his proctologist didn't get a glimpse of that sort of sum.

One must firstly consider that by the time Obama gets out it will be more like $20 - $30 trillion debt.

Humpy · Mar 25, 2013

All through modern industry bosses nowadays get paid as performance related. Why not politicians too ?
I don't know what the debt was when Bush got in and when he got out ? But it was at a guess significantly high. Why should he retire back at the ranch on a big pension and perks after a lousy job done ?

morganist · Mar 25, 2013

Quote from Humpy:

All through modern industry bosses nowadays get paid as performance related. Why not politicians too ?
I don't know what the debt was when Bush got in and when he got out ? But it was at a guess significantly high. Why should he retire back at the ranch on a big pension and perks after a lousy job done ?

If that was the case they would all owe us money.

Humpy · Mar 25, 2013

Quote from morganist:

If that was the case they would all owe us money.

That's right.
If it was included in the contract then the future President's might keep their objectives in mind and run the country like a business .

Grandluxe · Mar 25, 2013

Quote from Humpy:

One must firstly consider the question - should the US even attempt to pay off it's $16.5 trillion debt ?
If the answer is NO then it will have to renege on the debt.
If the answer is YES then the question remains as to HOW ?

Maybe offerring something to write off some of the debt ? China is owed about $10 trillion. Is Hawaii or say Alaska worth that much ? The USA did buy Alaska off the Russians for a lot less.

Perhaps a 10% a year tax on savings or even wealth would raise quite a sum.

Make George Bush find it ? Even his proctologist didn't get a glimpse of that sort of sum.

Alaska is too valuable for resources.

Hawaii is better as it is a majority Asian state and they don't like us anyway as they already have "kill whitey" day.

Fractals 'R Us · Mar 25, 2013

Quote from gastropod:

Most of the US debt is owed to US citizens...social security, medicare, etc.

but they already know they aren't going to pay off on the unfunded liabilities...

piezoe · Mar 25, 2013

Quote from Humpy:

That's right.
If it was included in the contract then the future President's might keep their objectives in mind and run the country like a business .

Which business did you have in mind? Enron? Or perhaps Lehman, Countrywide, AIG, Standard and Poor, Arthur Anderson, Goldman Sachs? Peregrine, MF Global, JP Morgan, IndyMac, WaMu?

Come to think of it, Congress is already running the country like a business and the President is running the Armed forces and managing his kill list like the mafia. We should should be doing quite well.

BSAM · Mar 25, 2013

We are bankrupt.
The debt will never be paid.
I wonder what the new currency will look like and what it will be called.