What if Obama got on TV and was blatently truthful to the sheeple.....? Look sheeple.....you have two choices.... The banks have lost all of your deposits by being careless..... 1) In order to have some semblance of the way it used to be....the govt. will incur a debt of over $1,100,000 for every US person.... Which will be paid via higher taxes....ie a progressive rate of 30 to 70%.... We can pay by inflating.... 2) We can start over ..... File bankruptcy..... Restructure taxes by starting a 10% State 5% Fed Consumption tax only.....no other taxes.... Which will it be ? ........................................................................... The choice has already been made .....? And in addition more govt. will enshrowd everyone.... Medicine.....and far more restrictions and regulations....reducing individual freedoms by at least 70% or more....
Consumption taxes will rise dramatically in the U.S. over the next decade. This is the lesson of California. Cali is in the shit partly because income tax revenue fell nearly 30%. So, people are making far less money and paying far less income tax. The government at state and the federal level will have to move to a consumption and service fee based if it has any hope of avoiding massive default on its debt, even with the fed having the ability to print more (this course of printing massively - on top of what's been done - would exacerbate, not cure, the revenue problem as it would take the U.S. economy down). We're going to have dramatically higher unemployment and dramatically lower income tax revenue in this country for a long, long time. Get ready for U.K style consumption and 'service' taxes. You'll be paying a shitter tax every time you flush your toilet in the U.S. soon. Can you say "red light traffic camera," or "congestion traffic charge?"
Increase Immigration quota, problem will be solved with 100 million immigrant from 3rd world countries.