Quote:Forgive my ignorance, but can you please explain a possible solutions to actually make a dent in our insurmountable debt - which is growing by the second?
Ok, we stop printing money - but would that not leave the level of inflation stationary, instead of growing?
I understand we have to minimize the rate of "debt incurred-ness" - but the total US debt being at 61 trillion (and counting) seems to be quite hefty. Obviously it would take years and years to lessen it...
Again, I understand money and numbers but I honestly never took a hard look at this problem - even though I know it exists and is a REAL problem.
A good start would be to stop throwing aid around willy nilly. That should be reserved for humanitarian crisis as necessary but not just because like we currently do. Getting involved in literally every military conflict would be another.
It's a complex problem requiring a complex solution but these are huge money sinks we can easily fix.
Quote:Forgive my ignorance, but can you please explain a possible solutions to actually make a dent in our insurmountable debt - which is growing by the second?
Ok, we stop printing money - but would that not leave the level of inflation stationary, instead of growing?
I understand we have to minimize the rate of "debt incurred-ness" - but the total US debt being at 61 trillion (and counting) seems to be quite hefty. Obviously it would take years and years to lessen it...
Again, I understand money and numbers but I honestly never took a hard look at this problem - even though I know it exists and is a REAL problem.
At this point our best weapon against the debt is inflation. It's going to kill the average citizen but without inflation we won't be able to keep up with the interest much less debt.
I know we've begun to prepare for massive increase in food and consumables with smaller quantities it'll become more and more normal but it's necessary to just service the debt.
More importantly is the need to stabilize our spending which would require massive cuts domestically and foreignly.
So the short answer cut spending + suffer through inflation = maybe we come out of it in one piece
Quote:At this point our best weapon against the debt is inflation. It's going to kill the average citizen but without inflation we won't be able to keep up with the interest much less debt.
I know we've begun to prepare for massive increase in food and consumables with smaller quantities it'll become more and more normal but it's necessary to just service the debt.
More importantly is the need to stabilize our spending which would require massive cuts domestically and foreignly.
So the short answer cut spending + suffer through inflation = maybe we come out of it in one piece
So we keep printing money to keep up with the accumulating debt - while shooting ourselves in the foot by devaluing the dollar. At what point will we break from bending too far?
It seems more like we have shot ourselves in the groin - to the point of irreparable damage.