T Nation

The Debt is Not Gone

It doesn’t matter what government does now. Nothing will make the trillions in debt go away. It will either have to be repudiated (depression) or inflated away (destitution).

Here’s a link to our Debt Clock:

http://www.dollardaze.org/blog/

Obama, McCain,…it DOESN’T matter. Let the suffering begin.

It has already begun for millions of people.

Assumption: The reason the debt is still there is because the American people don’t feel that is affecting them.

Assumption 2: The American national debt will become an issue when people become afraid of feeling the consequences.

Question: Assuming the two above assumptions are true, what would it take for people to care enough and government to fix it?

The reason the debt is still there is not just because people don’t feel it is affecting them. The reason it is still there is because it hasn’t been paid off yet for whatever reason. I don’t think we can collectively identify a reason. There are multiple reasons depending on individual circumstance.

The national debt is only a concern with regard to inflation. Most Americans won’t see these affects for some time off as it takes a while for it to ripple out to the masses.

The fix for this problem is simple: work, pay off debt, save, invest. Many people already have begun to do this and this is why we are seeing unemployment. The next step is for businesses to start finding customers abroad so we can continue being productive and paying off our debts.

We are in debt because liberals like to spend too much (and George W Bush was a liberal by too many points).
Dont spend what you dont have, plain and simple. We are constantly mortgaging our children’s future - not a good idea at all.

The way the debt is growing, it will either soon equal all the wealth in the world, or the currency of the debt will lose tremendous amounts of value. Since the world will not be ‘owned’ by us, this currency is finished.

The best course would be a deflationary collapse, so that there is a widespread and easily available form of money available. Somehow carrying around bags of gold just seems far fetched.

[quote]Headhunter wrote:
The way the debt is growing, it will either soon equal all the wealth in the world, or the currency of the debt will lose tremendous amounts of value. Since the world will not be ‘owned’ by us, this currency is finished.

The best course would be a deflationary collapse, so that there is a widespread and easily available form of money available. Somehow carrying around bags of gold just seems far fetched.[/quote]

Define ‘soon’.

Last I checked, the US national debt was about 60% the US GDP. Which is a lot, given that the US GDP is the largest in the world. But it’s also more or less in line with other well-developed nations (Britain, France, etc.)