“Dream A Little Dream”: How Long Would It Take To Pay Off The U.S. Federal Government Debt?

Originally posted by CaDreamer
the bush tax cuts alone is 1.3 trillion over 10 years

Ok - I think that is a bit high, but fine - that is 130 billion a year, and the total military budget is 700 billion a year. We will never get rid of 100% of our military, we have to at least have some force to maintain our equipment and man our domestic bases. So fine, lets say we cut military spending by 80% and take in 130 billion more a year from the bush tax cuts, I am in favor of all of that by the way. That makes it near 600 billion instead of 500, a third of what is necessary to break even on our yearly debt, not pay it down. You still need to come up with at least a cool trillion a YEAR, soon to be much more.

Lightrule - any military spending that is not accounted for in the budget has to be small potatoes, and be fully funded by under the table funding. It has to be a wash. The government is not able to issue secret debt, doing so if found out would destroy the market for our debt, and it would have been found out if it was anything other than a pittance. The budget numbers may not be exact, but they have to be fairly close.

I know you want to believe the problem is solvable by just cutting defense, and it probably was 10 years ago - but we are long past that stage now. We are past the stage of being able to solve the problem without tremendous pain even if the politicians wanted to - and they know it, that is why they are not even attempting it.

Just print a little money, release a bit of oil, subsidize some corn, sell some silver, control middle class ownership of gold. Make the dollar cheapen when you gotta pay your bills, cause a couple of crisis to keep the dollar safe.

There's gotta be a song there.

Ya know, even before Obama the debt was like this... Its just a better political tool now so its big news.

the debt is unpayable. simple as that. there is no stopping whats coming.

the economy will collapse soon due to a very large natural disaster, it will be the tipping point.

Originally posted by Redwookieaz
Ok does anyone really understand what the national debt is? I think if more people did, and realized that ALL the income tax you pay goes straight into paying the interest on it, they would riot overnight.

The national debt is the debt owed by the government, for loans given to them, by the federal reserve. The federal reserve is a private bank owned by shareholders who are kept secret. These are the infamous banksters of the world.

I was under the impression that the 'national debt' is all the federal reserve notes in circulation. If we turn in all FRN and the government issued greenbacks for the citizens to use we would have paid off the national debt.

Why hasn't anyone brought up that little fact?

The thing that is hard to get our head around is that money = debt. Yes that $20 bill in all our wallets actually came into being because somewhere up the debt chain some entity borrowed. What did they borrow exactly? Nothing, literally. It was created literally by adding some numbers to an account in a computer. So without debts, without borrowing initiating the money creation process, their would be no currency in this ponzi scheme economy.

Governments, all governments, borrow to begin the money creation process or artificially stimulate the money creation process. Commercial banks utilizing fractional reserve banking then create from the original $1 billion deposit, $10's of billions more through loans. Yes, your are thinking correct, Commercial banks legally engage in creating currency. But wait, if they are loaning money they don't have, and are just printing money to engage in this activity, they are counterfeiting. Yes, they are and this is the overlooked crime of the century. Banks counterfeit money.

Just when we think it can't get worse, let's get kicked in the balls shall we. Interest. Interest is attached to all loans, and it can't be paid because there is never enough money in circulation to pay all principal debts + interest.

Bankers are demons set loose to run amok amongst us. Their heads need to be removed from their bodies, french revolution style.