If you default on the existing debt the government would not be borrow money again. No more deficits! Huzzah!
Long term liabilities are a different matter. Medicare and Social Security. Can't pay them, and now, you can't borrow money to pay them.
This either goes one of two ways, IMHO, default, or hyperinflation. Default on the debt, means test Social Security, eliminate Medicare and Medicaid, and loose the ability to borrow money. Hyperinflate the dollar, no more debt, seniors haha, and the government can blame...whomever it wishes. Which is the more likely?
Or we̵ could fe̵de̵ralize the unite̵d state̵s curre̵ncy, seize̵ all of William Gates III's holdings, including his farm lands, and watch the world banks collapse̵.
I'm sorry, what we̵re̵ the other two choice̵s again? I swe̵ar, I have a million of the̵se. These̵ choices are like ge̵nders.... It's a spectrum. Exce̵pt there are only two se̵xes. So it's not like the sexes. Though it is kind of sexy don't you think???
There entirety of the assets of the United States and the assets of the individual citizens of the United States wouldn't cover the debt and long term liabilities of the United States Government. Not to mention that attempting to seize those assets would devalue them. No, promises made will not be kept. Secession on the other hand, would be an interesting twist.
Cover? I said nothing of the sort. The world banks are holding paper on bad loans. The mistake is theirs.
attempting to seize those assets would devalue them
On the global markets? That's not the point of seizing the farm lands from William Gates III. He is a criminal, his assets are forfeit, and we will coup anyone we want. Now name one thing we need from any other country on the planet. Take your time. I'll circle back.
Your assumption that ONLY "world banks" hold Treasury Bills is not accurate. 8 Trillion or so are held by American investors IRAs 401ks individuals. Obviously, they took a risk in loaning the U.S. government money, but now you've defaulted, and no one will loan you money. Cool, but Social Security Medicaid and Medicare fall, and the federal government cannot borrow money. I'm OK with it, but to casually wave your hand and pretend that there won't be consequences is short sighted.
My point still remains. It's either default (not paying the money back), or hyperinflation. In the history of man, I can't think of a single instance where the government did not choose to hyperinflate.
If you default on the existing debt the government would not be borrow money again. No more deficits! Huzzah!
Long term liabilities are a different matter. Medicare and Social Security. Can't pay them, and now, you can't borrow money to pay them.
This either goes one of two ways, IMHO, default, or hyperinflation. Default on the debt, means test Social Security, eliminate Medicare and Medicaid, and loose the ability to borrow money. Hyperinflate the dollar, no more debt, seniors haha, and the government can blame...whomever it wishes. Which is the more likely?
Always only two choices you say?
Or we̵ could fe̵de̵ralize the unite̵d state̵s curre̵ncy, seize̵ all of William Gates III's holdings, including his farm lands, and watch the world banks collapse̵.
I'm sorry, what we̵re̵ the other two choice̵s again? I swe̵ar, I have a million of the̵se. These̵ choices are like ge̵nders.... It's a spectrum. Exce̵pt there are only two se̵xes. So it's not like the sexes. Though it is kind of sexy don't you think???
There entirety of the assets of the United States and the assets of the individual citizens of the United States wouldn't cover the debt and long term liabilities of the United States Government. Not to mention that attempting to seize those assets would devalue them. No, promises made will not be kept. Secession on the other hand, would be an interesting twist.
Cover? I said nothing of the sort. The world banks are holding paper on bad loans. The mistake is theirs.
On the global markets? That's not the point of seizing the farm lands from William Gates III. He is a criminal, his assets are forfeit, and we will coup anyone we want. Now name one thing we need from any other country on the planet. Take your time. I'll circle back.
Your assumption that ONLY "world banks" hold Treasury Bills is not accurate. 8 Trillion or so are held by American investors IRAs 401ks individuals. Obviously, they took a risk in loaning the U.S. government money, but now you've defaulted, and no one will loan you money. Cool, but Social Security Medicaid and Medicare fall, and the federal government cannot borrow money. I'm OK with it, but to casually wave your hand and pretend that there won't be consequences is short sighted.
My point still remains. It's either default (not paying the money back), or hyperinflation. In the history of man, I can't think of a single instance where the government did not choose to hyperinflate.
Social Security is fucked. Commit as much tax fraud in Minecraft because they steal our money with SS just to give us only half of it back.