Two scenarios as far as I've read---default or high (hyper?) inflation to relieve the debt burden. It's apparently too late to raise taxes enough ($325,000 per working taxpayer, $125,000 per citizen) though had we taken a more adult path starting in 2000 we could perhaps be in much better shape. Or maybe not: maybe it's the cyclical nature of economies that the accounting magic eventually catches up and the tide goes out leaving the bare rocks of actual assets exposed. That's the value of a good depression though, to learn, one hopes, what worked and what didn't, not to mention for the populace to quit acting like divisive imbeciles...and time for Sysiphus to start rolling his boulder uphill again.
Its the politics, greed and the delusionists who will ruin this country , they have been for many years and are glorified for it. Why? Because they have made the followers super rich.
Two scenarios as far as I've read---default or high (hyper?) inflation to relieve the debt burden. It's apparently too late to raise taxes enough ($325,000 per working taxpayer, $125,000 per citizen) though had we taken a more adult path starting in 2000 we could perhaps be in much better shape. Or maybe not: maybe it's the cyclical nature of economies that the accounting magic eventually catches up and the tide goes out leaving the bare rocks of actual assets exposed. That's the value of a good depression though, to learn, one hopes, what worked and what didn't, not to mention for the populace to quit acting like divisive imbeciles...and time for Sysiphus to start rolling his boulder uphill again.
Its the politics, greed and the delusionists who will ruin this country , they have been for many years and are glorified for it. Why? Because they have made the followers super rich.