Yes, it can. I do not believe they (DC) have the courage to do it , though. So, the market will eventually decide for them (and us).
You are probably right, simply because the pols are infected with the same disease as the average American. Never in the past 30 years have I heard any politician stand up and tell the American people they have to change. Jimmy Carter did it once, when he told people to sacrifice and put on a sweater...and what did the people do? Elect a man who told them what they wanted to hear and began the deficit spending and glorification of "American exceptional-ism and entitlement" that appealed to American's vanity. It comes down to the people. The leaders simply reflect the level of corruption in the people. If the people demand change, we will get it. It has always been that way. I always blame the voters more than the politicians, the politicians are simply a reflection of the hope, dream, and denial of the voters.
carter was basically saying america is no longer a leader, He said we were gonna suck and put on a sweater cause oil prices are going higher. The guy was the 2nd worst president in history. Deficits and spending went up under Carter just like they had since Kennedy. here is a little background from 1982 deficit reduction proposal from CATO. http://www.cato.org/pubs/pas/pa013.html
Nonsense. If we had listened to Carter, who was trying to lead America to energy independence, we would not be in the mess we are in today. The people refused to sacrifice for the future, demanded gas guzzling cars, elected Reagan who spent money like mad, created huge deficits, presided over one of the largest declines in the stock market by percentage, created a huge military machine that was not needed, etc.
You are making more sense...it will be pain all around...including for the military industrial complex! Nobody will go untouched as America returns to fiscal discipline...if America doesn't cease to exist...because of riots and revolution because of the financial pain involved with returning to fiscal discipline. Fiat currency caused much of the problem, because it is too easy to create money with fiat. It allows adults to act like children in that they can print their own money...kind of like somebody who plays Monopoly...but, can give themselves money from the bank. Limiting the monetary base limits the growth of the economy...but also limits the cycles of an economy. I would add that "fractional reserve" banking is also to blame...gee, let us pull money out of our butts....bad idea! -gastropod
Rock and a hard place! If we continue with fiat...we are screwed... If we move to "real" money...pain will be felt...at least if we move to "real" money we will in the end have a more stable economy...fiat will lead us to revolution, riots...and then finally back to "real money." -gastropod
first of all america... did start buying smaller cars... ask the Japanesse. We have been betrayed by all of congress but particularly the pinkos and the fake environmental movement. The left has been a major contributor to a lack of coherent energy policy.... don't even think of trying to blame Reagan. He showed that tax cuts raise revenue. No drilling No coal No mining No pollution Wtf you think Republicans did not want to drill for oil? You think that Republicans did not want more nuclear power... I am not saying I wanted nuclear power... I am just setting the record straight. Democrats and Republicans spent like hell. Read the link I presented from CATO. Reagan reduced taxes and revenues went up. More taxes destroys revenue... We need to tax less and spend less. We need drill. We need cleaner coal plants We need to consider alternative energy nuke plants. I certainly don't see any of those Ideas coming form Obama and the lefties... They are trying to implode our economy and make us energy dependent as he goes destablizing the ME.
not sure i'd call the military only the GOP's sacred cow the way obama has been running around the middle east.