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Paying Off The National Debt.

dDave

Well-Known Member
V.I.P.
I saw Raye's thread discussing Obama's Address and the 2 options they have, but this thread is about discussing the National Debt not necessarily the current crisis with budget issues.

I was torn between two forums this could have fit in but I decided that this can be a very polarized topic so it fit best in Divisive Issues.

Alright so the current National Debt is as follows. U.S. National Debt Clock : Real Time

So to put the question up right off the bat.

What do you think the best method would be for paying off the current national debt?

I'll share my thoughts later, I'm still working on my plan (which as of right now I feel is pretty good).

My very basic thoughts are that we need to stop spending more than we are making, it just seems so basic to me, the way America is run is absolutely unsustainable and simply is not justifiable.
 
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Rekd

New Member
I think we should stop spending for anything that is not specifically declared in the US Constitution. All these entitlements and pet projects are sucking up every resource we have, and then some.

We need infrastructure (in the form of good roads, not more laws affecting those that drive on them), national defense, national emergency response teams and not much else.

Things like the EPA, the Department of Education, Healthcare, Banning Big Macs and the BLM are all examples of socialistic over-stepping and need to be cut. Certain accolades can and should be made for gross polluters that are national or international in scope but that's about it.

Public education is a joke. They need to get back to teaching read, writing and arithmetic and let me teach my kids how to put on a condom and why Memorial Day is for remembering, well, our military heroes (something my kindergartner's teacher completely left out).

I'll shut up now.
 

dDave

Well-Known Member
V.I.P.
I think we should stop spending for anything that is not specifically declared in the US Constitution. All these entitlements and pet projects are sucking up every resource we have, and then some.
Exactly this, the responsibility of the federal government should be completely limited to things listed in the constitution. The purpose of the constitution is to limit the government. The government has become so bloated and for some reason they feel as if everything is their responsibility. This so called "Equality" is so far from the truth, the rich are really getting screwed under the current system, they work hard and make a ton of money and the government feel like they can simply take it.

We need infrastructure (in the form of good roads, not more laws affecting those that drive on them), national defense, national emergency response teams and not much else.
I agree with this for sure however sometimes we do need new laws, there are circumstances in which it is necessary.

Things like the EPA, the Department of Education, Healthcare, Banning Big Macs and the BLM are all examples of socialistic over-stepping and need to be cut. Certain accolades can and should be made for gross polluters that are national or international in scope but that's about it.
Yeah healthcare is simply not a "right", it's going to cost the government a crapload of money when they were already overspending by a large margin, it's one of the worst ideas they've ever had.

Public education is a joke. They need to get back to teaching read, writing and arithmetic and let me teach my kids how to put on a condom and why Memorial Day is for remembering, well, our military heroes (something my kindergartner's teacher completely left out).
Yeah the education system is a joke, I just graduated high school and from what I've heard about even 10 years ago this generation is dumber and lazier. For some reason everybody thinks that high school is all about having fun rather than learning. I was one of those people that graduated and actually knew how to read, write, and do mathematics, not to mention the fact that I knew my history.

I really do think that in 7th grade I was a better writer than most of my classmates that I graduated with, that in and of itself is sad.
 

Rekd

New Member
sometimes we do need new laws, there are circumstances in which it is necessary.
There are very few laws left that they could create that wouldn't cover what's already been covered.

Like many things coming from the all-too-common Department of Redundancy Department at our local, state and federal governments, enforcing existing laws instead of making new ones should be the first course, but it is not.

If they can't make new laws they have no reason to exist. And we can't have that can we?
 

dDave

Well-Known Member
V.I.P.
Alright so here's a very basic version of my plan.

We all know that the government spends way too much money (at least we can all agree on that).

If I were in charge of the government I would tell everybody that funding was simply going to be cut by 20% over the coruse of 1-2 years for everybody except for the military and this was going to be spread out evenly across everybody. Repeat process until desired results occur. This would also include cutting out the healthcare bill and any future stimulus bills (as well as remaining portions of the current stimuli bills).

A lot of people think that this is a bad idea to cut spending but to them I ask this question. Aren't the consequences of cutting spending far less than the consequences of being in debt the way we are?
 
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Rekd

New Member
You can't just cut spending across the board. You have to ELIMINATE the funding for the crap like studying how fly's mate and all the entitlements that aren't absolutely need and lobbyists and and and
 

dDave

Well-Known Member
V.I.P.
You can't just cut spending across the board. You have to ELIMINATE the funding for the crap like studying how fly's mate and all the entitlements that aren't absolutely need and lobbyists and and and

Well I was more or less thinking that each department could eliminate those stupid programs themselves. When I said cut 20% I meant each department in general, they could cancel any program that they feel is unnecessary (given that they had to cut their budget by a lot). Hopefully they would be intelligent enough to get rid of programs such as those.
 

pro2A

Hell, It's about time!
One word. OIL.

We have enough of it under our feet to pay the debt and possibly even have a surplus, all while putting hundreds of thousands back to work.
 

dDave

Well-Known Member
V.I.P.
One word. OIL.

We have enough of it under our feet to pay the debt and possibly even have a surplus, all while putting hundreds of thousands back to work.
Yeah that's another big thing that we could do.

One problem is that we don't for sure know exactly how much oil we have nobody seems to be able to supple a clear number.

I've heard numbers ranging from 500 trillion (which I think is false for sure) to 500 billion.

One barrel of oil which is 42 gallons currently sells for about $110

At 500b barrels that's $55,000,000,000,000 yeah you read that right, 55 trillion dollars.

So that's actually a much better idea than I thought it was at first by a long shot. :eek:l:

Too bad these idiotic environmentalists and animal rights activists are completely screwing us and making it impossible for us to tap into our oil.

Either way though our spending is still out of control on a bunch of stupid crap that we don't need.

What if we cut spending and dove into all of our oil?
 
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Swiftstrike

Registered Member
One word. OIL.

We have enough of it under our feet to pay the debt and possibly even have a surplus, all while putting hundreds of thousands back to work.
States (countries) that are (become) dependent on natural resources usually have several systemic problems. There are too many examples of states such as Russia, Africa, almost all of French Indochina, that are dependent on natural resources to support government finances.

It would be s step backward for the U.S. - a service economy - to use our natural resources to support our finances.

That being said, Dave the "national debt" is not a simplistic problem that can be easily solved by cutting spending, tapping into natural resources, or raising taxes. Their needs to be a combination of several economic factors, that are not only based on the U.S.'s domestic policy changes but international policy changes. Especially other countries policy changes.

With all things being considered...there are some things should be examined before plans for the national debt.

1.) A powerful state's debt is a somewhat arbitrary number, and becoming increasingly arbitrary with globalization and the increase in international trade. The government can always print more currency, risking the possible devaluation of their monetary unit. Which, most countries do.
2.) Since most states use the U.S. dollar as their international reserve currency, no country wants to see a devaluation of the U.S. dollar. Countries like China will not call in their debt because it would make all their reserves...well worthless.
3.) The economic state of countries are now heavily dependent on one another. No developed state wants to see a major trading partner go under; the increase in national debt is not that much of an issue with one of the worlds largest trading partner.
4.) Most developed states have a large amount of debt, the U.S. is not alone in this. The "problem" is sensationalized by the media.

I don't have an answer but the reality is that this "problem" is completely blown out of proportion. It would take years, upon years of the national debt exceeding GDP for the U.S. economy to deteriorate by any significant means since there are several non-domestic factors.

The mantra of cutting spending, flat taxes, and pay off the debt is just that. A simple mantra of inadequate solutions for a complex problem ...that isn't even that much of problem because of U.S. hegemony.

The ONLY reason people are unhappy is because unemployment is high, but anyone who studies economics should know that after a recession employment is one of the last things to rise. I am willing to bet that if unemployment was safely at 4-6% there would be no complaints about the national debt.
 
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