Do you believe there is a solution to the United States' financial situation?

[Lorizael]

We argue a lot about budgets and deficits and debts around here, and about how your opponent's proposals will destroy the very foundation of America and all that jazz, but do people actually believe that they have (or that there is) a solution to the financial problems facing the United States?

That is, sure, you might believe your proposal does a better job of curbing this year's deficit or what have you, but do you believe there is a way to actually stop owing money to other countries, stop borrowing, spur economic growth, run surpluses, and return to the glory days of whenever?

Additionally, if you do think there is a solution, what is it?

[Robert]

Hyper inflation is the answer.
But first warn everybody that hyper inflation is going to be initiated in one weeks time.
That'll both initiate hyper inflation AND it will cause many people to spend their savings, which will save the economy. (yeah, sure!)

It may come with 'some' unforeseen disadvantages, but who cares?

Bottom line: I voted "my own crazy plan"

[Lorizael]

It worked in Zimbabwe.

[BeBMan]

Massive bank robberies.

[giblets]

Raise taxes. Cut spending too I guess.

[Lorizael]

Massive bank robberies.

Do you mean that massive banks should commit robberies, or that banks should commit massive robberies, or that bank robbers should commit robberies against massive banks, or that bank robbers should commit massive robberies against banks?

Remember, this is for posterity, so please be honest.

[Lorizael]

Raise taxes. Cut spending too I guess.

Cool. How much do you have to raise taxes by to eliminate $14 trillion in debt?

[Asher]

Kill the military budget by half.

[Lorizael]

Based on my (very approximate and probably inaccurate) calculations, that gets the US out of debt by like ~2050, assuming all the extra money is spent on reducing the debt and the defense budget never changes and the debt never rises for any other reason.

[giblets]

Cool. How much do you have to raise taxes by to eliminate $14 trillion in debt?

We don't have $14 trillion in debt. The "national debt" counts the social security trust fund, which is money the government is lending itself. The government actually owes something like $8 trillion dollars. And if the debt only grows at a rate of, say, 4% a year then the economy will outgrow it. I'm not sure why you think the whole thing needs to be paid off.

[BeBMan]

Do you mean that massive banks should commit robberies, or that banks should commit massive robberies, or that bank robbers should commit robberies against massive banks, or that bank robbers should commit massive robberies against banks?

Remember, this is for posterity, so please be honest.

The latter. Than you only need a tax on the profit made from massive robberies against banks. This will allow gov/states to pay all their debt, so banks don't lose anything, but everyone wins.

[onodera]

Default on your national debt and watch every other economy crash and burn. Use Mexican labour to go restart your industry.

[ColdWizard]

Annex Canada's oil.

[Lorizael]

We don't have $14 trillion in debt. The "national debt" counts the social security trust fund, which is money the government is lending itself. The government actually owes something like $8 trillion dollars. And if the debt only grows at a rate of, say, 4% a year then the economy will outgrow it. I'm not sure why you think the whole thing needs to be paid off.

Isn't the projected insolvency of the social security and medicare trust funds something of an issue?

[Jon Miller]

http://www.latimes.com/news/opinion/la-oe-sanders-social-20110214,0,5492454.story?track=rss

I personally think with people living longer there is no reason to keep the retirement age at 65 and it should rise to 67 or even 70.

JM