10 trillion dollars...National Debt now heading to 11 trillion when Congress passes the 750 billion dollar bail out legislation..
The US dollar is nothing but a cult that more and more people internationally are (rightly) bailing. As long as people believe it is worth something, then it is.
Time for the government to do a wholesale, very painful cost cutting. Time to absolutely cut all expenses to the bare necessities for the next 10 years. Bring the military men and women home to the US and have them patrol the borders...put the word out that tresspassers will be shot on sight. Eliminate Border Patrol...useless... . Put a temporary moratorium on any new foreigners coming into the country while the backlog is flushed out. . The US has nukes. Anyone tries anything... , its Mutually Assured Destruction. End all financial aid and rebuilding in other countries... we cant even aid ourselves ... New Orleans still isnt rebuilt (nor should it be).... now we have Galveston... meanwhile... Iraq keeps getting rebuilt and blown up over and over with US taxpayer money.
Drugs... either legalize pot and tax and regulate it...... or shoot the dealers. Wont be so lucrative after a few are dead. Empty the jails of nonviolent drug users and put them into less costly treatment programs.
Social Security.. should be a safety net only...just because you contributed doesnt mean you should collect. If you are low income at retirement, or of course legit disabled, then of course you should collect..... . and eliminate the wage cap on contributing to it... ALL wages should be taxed. ...the US needs to pay back all the IOUs it has with the SS....
and the American people are going to hurt for awhile while this happens... unemployment would easily double..... consumer spending would drop like a rock.... as it should.... it will be a DEPRESSION... not just a recession (which no one is still willing to call the mess now).... and people will have to sacrifice if this country is ever to dig itself out of this economic hole..
Either now.... or later...and late will hurt more. Short term pain for long term stability....
SPEND LESS and raise taxes. NOT spend more and lower taxes... that doesnt seem to be working. Maybe eliminate the income tax and replace it with a National Sales Tax.