%% CUT spending+ cut the overspenders @ election time, LOT of little things to do, federal tax free muni bonds, federal tax free Roth. TRY not to use federal stuff like interstate more than we have too/LOL..........................................................................................................And make sure Muni bonds federal tax free do NOT have overwieght in hi tax states......................... Good question , no not default, cut spending. IT like the WSJ full page add, said addressing your question ''Wage War On Waste , Cut 10%''
Let me give you my take on this ridiculous debt ceiling business. Deficits created by spending > revenue increase the amount of base money in the private sector economy*, and the subsequent and linked issue of government bonds then provides a tool of the Central Bank used to regulate the ratio of readily available base money in the form of bank reserves to temporarily non-circulating, or "sidetracked", money in the form of bonds. To prevent deflation -- which no nation that runs on fractional reserve banking and credit can tolerate -- the government must supply additional base money, also called "outside money," to an economy that is growing. The critical question then is not whether the government must run deficits from time to time, that it must do !, but how big should those deficits be? Because the U.S. matches it's issuance of new base money with subsequent bond issuance, the appearance is that of "borrowing money." But actually the new money is created and spent into the economy before it is later "borrowed" by issuing Bonds. Or said another way, there is no actual borrowing going on in anything like the traditional meaning of the word "borrowing." The Constitution requires that the nation pay its debts. The so called "debt" will always rise over time as long as the economy grows, or emergency spending or investment needs arise.. The government always money funds its expenditures that exceed its revenue, i.e., it "prints" the money it needs, and only later matches what it has printed to bonds that it sells to the private sector. If the nation's economy grows, its expenditures must exceed its revenues to some extent to prevent the economy from becoming starved of base money. The "debt ceiling" concept is a purely political one. It's used by politicians to convince their constituents that they are doing what they can to prevent ruinous debt from being visited on them and their progeny. When politicians oppose this program or that, they will fall back on the "can't afford it ruse" to justify their political opposition to often otherwise popular programs. This is effective with their constituents who naturally equate their personal finances to government finances, though in realty the constraints acting on personal versus government finances are very different. What those same politicians should be doing instead is worrying about either inflation, that may be caused by too rapid an expansion of base money, or the loss of budget flexibility in discretionary spending that could result from bond servicing, which is non-discretionary, becoming too large a fraction of total government expenditure. Of course the so-called debt could be paid off in short order by converting outstanding bonds to base money**, but that would likely occasion the first problem mentioned, inflation. There is some debate among economists on this point however. Politicians understand that it would violate our U.S. Constitution for our Treasury not to pay it's bills. This debt ceiling game of chicken they play is a ridiculous charade for the benefit of misinformed but well-meaning constituents. _______________ *In the opposite case, where revenues exceed expenditures, base money is net removed from the private sector economy and surpluses are produced. If this is done to any significant extent it will result in too little money for savings and investment. Recession, deflation and depression, more or less in that order, is likely to follow. **This is similar to what happens in Q.E., but the amount of bonds converted so far in 21st Century Q.E. has been small compared to the total outstanding. Japan may serve as the test Canary here. They not long ago converted roughly 50% of their JGBs.
If the government defaults, every person in this country will go bankrupt, because we are all teats of the Fed interest cow. Check it. The USA will collapse. There will be no reason to hold any equity, because there will be no more USD.
The Government is a like a movie....Die Hard. Full of suspense. You know John McLane will persevere. The US Government will not fail. Continue to raise limits and loans. More money for you, more money for me, more money for everyone.
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Raising debt ceiling and trying to waste trillions of dollars and raising taxes and letting hordes of illegals flood into our country is why DEMOCRAT POLITICIANS IN WASHINGTON ARE FUCKING MORONS. Vote GOP Just saying....
What is happening is the baby eating drug addicts are trying to inflate the currency in case they have to pay back the six trillion they stole from me.
Yawn. Different year, same game. Oh no, the government gonna shutdown. Right. This stop being suspenseful decades ago. Where does the money come from? Who the fuck cares at this point? It's all horseshit.