Any thoughts, or are we just going to sit back and allow them to take us back two hundred years?
A default, a depression, hyperinflation, or some combination of the three. There is no way to pay for all the garbage the US gov. is doing, and if you keep claiming there is then you are the delusional one.
Take Social Security, Medicare, Medicaid. They are huge sinks that soak up money and contribute to rises in healthcare costs. They are far too huge to pay for, especially once the demographics switch and there are more people getting money than there are giving into it. They are massive ponzi schemes. Get rid of them.
Or the US military budget. Does the US REALLY need to have bases in 130+ countries? Is Germany in danger of Soviet tanks invading? Is Japan going to be rolled over by China the instant the US leaves? Not really. Furthermore, the US DoD is famous for putting loads of money into pointless projects that never produce anything of value. Major money could be saved there.
How about foreign aid? Why is the US sending its money to other countries when it is already trillions of dollars in debt? That should be a very easy place to cut money from.
The opposition to "austerity" is reminding me of the Democrats complaining about people opposing the laws regarding home ownership ten years ago. Whenever people tried to get rid of them, the response was "You just don't want poor people to have a home", as if we are cackling villains out to cause mischief rather than addressing a problem that is quite evident and will not fix itself. Their silly argument worked that time, and it contributed to the most recent recession. If it flies again this time, the US economy is going to be utterly destroyed in the next bout of corrections, and you won't be able to preserve any of these programs no matter how much you want to "help" the poor.
Yeah, I stopped reading when you trotted out the Libertarian "any program which helps the needy is a ponzi scheme" canard.
Social Security is pretty much a textbook Ponzi scheme, though. The huge time delay involved in seeing any returns & the mandatory participation by all working citizens are the major reasons it doesn't collapse. Medicare is the same thing, though more abstractly formulated. Medicaid probably doesn't qualify, for the basic reason that the investors never actually see the returns.
