What can we do to fix our budget

[Againsheila]

I don't think anybody can argue that our country is in trouble debt wise. I worry about what will happen when the SHTF, is there any way to stop that from happening? To change things around before we completely lose everything? Is raising the debt limit a solution or a continuation of the problem?

Does anyone has any suggestions?

My nephew does...I haven't read his book yet but it sounds good.

[ame=http://www.amazon.com/gp/product/0983790809/ref=ox_sc_act_title_1?ie=UTF8&psc=1&smid=ATVPDKIKX0DER]American Solvency: One Constitutional Amendment To Permanently Fix Much Of What Is Broken In American Government: Wes Nicholson: 9780983790808: Amazon.com: Books[/ame]

Maybe I'm just a proud Auntie but if any of you read the book, I'd like to hear what you think of it.

 

[DiamondDave]

Increase income tax base, having no wage earner exempt from paying tax no matter how small the wage... simplify the tax system to eliminate deductions, loopholes, etc, to more easily forecast tax revenues... eliminate entitlement spending and cut overall government spending dramatically and drastically

Start there and see where you go from there

 

[PaulS1950]

We would have to cut the budget in half to make any headway on the debt. Raising taxes will do little without first lowering the spending. Even at that it will take hundreds or thousands of years to pay off the debt completely and with a representative government that can be bought and sold to the special interest groups we could never maintain a budget with a 50% surplus to keep paying on the debt.

As to what will happen? the money is going to run out - military will not be paid, infrastructure will collapse, governments will fall apart, and we will either be invaded or anarchy will be allowed to take over until some foreign power - likely the Chinese - see an opening for invasion. I have done my best to prepare but I don't know if it will be enough. Hopefully it will not be as bad as I think it will but if it is then the big cities will be the first to go, then the smaller cities. They are more dependent on the infrastructure and the federal government than the small farming communities like where I moved. I need to get more entrenched here - get to know more people - make friends and form a viable support group. Then it is just a matter of waiting to see what happens.

 

[Dont Taz Me Bro]

Stop spending money we don't have.

 

[S.J.]

Make Obama's cabinet members pay their back taxes.

 

[Staidhup]

Well, the fact remains, of which, Investor Business Daily exposed, CNBC, CNN, NY Times, Wall Street Journal, Congressional Budget office, and numerous others have come to recognize and write about as of late, is that a broad based tax increases on the middle class is mandatory in order to support the welfare state, and thats not yet factoring in the true cost of Obama care, but then again, only a few reported the facts until he was reelected. So taxing the rich alone did not cure the annual budget deficit, well what else is new.

 

[Freemason9]

Increase income tax base, having no wage earner exempt from paying tax no matter how small the wage... simplify the tax system to eliminate deductions, loopholes, etc, to more easily forecast tax revenues... eliminate entitlement spending and cut overall government spending dramatically and drastically

Start there and see where you go from there

(IOW, let's really stick it to the working poor, and enlarge our prison capacity)

 

[Freemason9]

We would have to cut the budget in half to make any headway on the debt. Raising taxes will do little without first lowering the spending. Even at that it will take hundreds or thousands of years to pay off the debt completely and with a representative government that can be bought and sold to the special interest groups we could never maintain a budget with a 50% surplus to keep paying on the debt.

As to what will happen? the money is going to run out - military will not be paid, infrastructure will collapse, governments will fall apart, and we will either be invaded or anarchy will be allowed to take over until some foreign power - likely the Chinese - see an opening for invasion. I have done my best to prepare but I don't know if it will be enough. Hopefully it will not be as bad as I think it will but if it is then the big cities will be the first to go, then the smaller cities. They are more dependent on the infrastructure and the federal government than the small farming communities like where I moved. I need to get more entrenched here - get to know more people - make friends and form a viable support group. Then it is just a matter of waiting to see what happens.

Agreed. The only way to "fix" the economy is to collapse the economy. Also, the only way to "fix" the government is to collapse the government.

This might be a little tough on social security recipients, those on disability, farmers, and those with massive property ownership (no more police protection), but OH WELL.

 

[LibertyLemming]

Balance the budget yearly or all of congress is ineligible for reelection

 

[Freemason9]

Balance the budget yearly or all of congress is ineligible for reelection

If you balance the budget every year, economic growth will grind to a halt because the money supply only grows though issuance of new debt.

HINT: The federal budget is unlike any other budget because it creates money, and it is not helpful to compare household or local government budgets with the federal budget.

 

[TakeAStepBack]

Nothing will be done. End of story.

 

[TakeAStepBack]

Balance the budget yearly or all of congress is ineligible for reelection

If you balance the budget every year, economic growth will grind to a halt because the money supply only grows though issuance of new debt.

HINT: The federal budget is unlike any other budget because it creates money, and it is not helpful to compare household or local government budgets with the federal budget.

The snake eating itself. These monetary schemes always end poorly.

 

[Freemason9]

Balance the budget yearly or all of congress is ineligible for reelection

If you balance the budget every year, economic growth will grind to a halt because the money supply only grows though issuance of new debt.

HINT: The federal budget is unlike any other budget because it creates money, and it is not helpful to compare household or local government budgets with the federal budget.

The snake eating itself. These monetary schemes always end poorly.

ALSO, monetary systems always end poorly.

 

[TakeAStepBack]

monetary systems, or monetary policy?
The difference being that monetary has to do with money. So a system involving money, isn't necessarily going to end poorly. While a policy, which generally reflects the idea of an authority and the control of money, certainly does usually end poorly.

 

[Freemason9]

monetary systems, or monetary policy?
The difference being that monetary has to do with money. So a system involving money, isn't necessarily going to end poorly. While a policy, which generally reflects the idea of an authority and the control of money, certainly does usually end poorly.

I mean both--system, and policy. Ultimately, they both end poorly. Prove otherwise.

 

[LibertyLemming]

Balance the budget yearly or all of congress is ineligible for reelection

If you balance the budget every year, economic growth will grind to a halt because the money supply only grows though issuance of new debt.

HINT: The federal budget is unlike any other budget because it creates money, and it is not helpful to compare household or local government budgets with the federal budget.

The snake eating itself. These monetary schemes always end poorly.

I was kidding anyway. You wanna fix the debt problem, stop all foreign aid, stop all entitlements, stop the war on drugs/terrorism/etc.

 

[Freemason9]

If you balance the budget every year, economic growth will grind to a halt because the money supply only grows though issuance of new debt.

HINT: The federal budget is unlike any other budget because it creates money, and it is not helpful to compare household or local government budgets with the federal budget.

The snake eating itself. These monetary schemes always end poorly.

I was kidding anyway. You wanna fix the debt problem, stop all foreign aid, stop all entitlements, stop the war on drugs/terrorism/etc.

What if it's not a problem, though? If it isn't actually a problem, there is no reason why every single American couldn't be lifted out of poverty.

I seriously suspect the motives of those that insist the debt is some big problem. I see no evidence, whatever, that fiscal debt has created any problems.

 

[LibertyLemming]

The snake eating itself. These monetary schemes always end poorly.

I was kidding anyway. You wanna fix the debt problem, stop all foreign aid, stop all entitlements, stop the war on drugs/terrorism/etc.

What if it's not a problem, though? If it isn't actually a problem, there is no reason why every single American couldn't be lifted out of poverty.

I seriously suspect the motives of those that insist the debt is some big problem. I see no evidence, whatever, that fiscal debt has created any problems.

You will when the dollar collapses.

 

[Freemason9]

I was kidding anyway. You wanna fix the debt problem, stop all foreign aid, stop all entitlements, stop the war on drugs/terrorism/etc.

What if it's not a problem, though? If it isn't actually a problem, there is no reason why every single American couldn't be lifted out of poverty.

I seriously suspect the motives of those that insist the debt is some big problem. I see no evidence, whatever, that fiscal debt has created any problems.

You will when the dollar collapses.

There is no evidence at all that points to any "collapse" of the dollar. None.

HOWEVER, there is a reasonably strong likelihood that the economy might collapse because of rising wealth inequity and humongously inefficient concentrations of hoarded wealth.

 

[LibertyLemming]

What if it's not a problem, though? If it isn't actually a problem, there is no reason why every single American couldn't be lifted out of poverty.

I seriously suspect the motives of those that insist the debt is some big problem. I see no evidence, whatever, that fiscal debt has created any problems.

You will when the dollar collapses.

There is no evidence at all that points to any "collapse" of the dollar. None.

HOWEVER, there is a reasonably strong likelihood that the economy might collapse because of rising wealth inequity and humongously inefficient concentrations of hoarded wealth.

Let's hope you're right on the dollar.