It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by SteveR
Originally posted by okyouwin
what's the other option? Governments control the money? This would pretty much give, let's say a great deal of control to government. That don't look desirable either.
Ridiculous response. Of course government should control monetary supply. Government should serve the people, not it's private, unaccountable lenders. Don't you think that $248 billion interest payment in the FY2013 budget could be better spent elsewhere? It's a gigantic sum of money, paid for by the people, that is not doing ANYTHING for the people. These taxes are going to waste. In 10 years interest payments on the debt are projected to quadruple. The annual budget will have to outlay a 1 trillion dollar interest payment. ONE TRILLION DOLLAR INTEREST. It is projected to cost more than medicare and defense spending. If you still don't understand how a system of debt slavery has been forced upon the people there is nothing more to say.
Originally posted by kingpin003
Originally posted by Wrabbit2000Under current 1+ trillion deficits? We're probably talking upwards of 50% cuts to really see the debt number start to shrink...then several years of living at that level.
Based on your numbers and the estimated interest rate that the debt has recently been growing by, I made a spreadsheet to play with that lets me see just how much of a surplus we would need to get out of this mess.
With a constant surplus of 500 Billion per year it would be 2079 before our debt is eliminated. Increasing the surplus to 750 Billion means we are debt free in 2044. These projections would be unacceptable to any debtors(not to mention it is unreasonable to expect 30+ years straight of surplus). As much as my conservative friends want to lower taxes and stimulate the economy, we simply cannot lower taxes without bankrupting our nation. Even holding them steady would require cutting 50% of expenditures to reach that 750 Billion surplus.