Quote:
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Originally Posted by Ustwo
OR be forced to reduce spending......... 
Let a man dream here. |
I agree we must reduce spending
the interest alone we are paying on our debt is insane.
I sincerely hope this dream comes true.
[Figuritivly speaking]
I don't agree completly with the starving the beast theory,
Not because it's not important, but because the "beast"
has gotten large enough to eat it's handlers (we the tax payers)
The beast needs to be put on a serious diet
No more pork for starters.[/Figuritivly speaking]
When foreign countries go into default to the IMF
they are forced to restructure,
to show a "good faith effort" to reduce debt.
The US is a bit different because we are in debt to the federal reserve
The same principals should still be followed.
Sure, we could raise the debt ceiling
again
If we continue to do that we will get to the point
where we can not even cover the intrest.
I suspect we are close to that tipping point.
The credit card is maxed out
A question to the people who know more about goverment finance:
Can a goverment be forclosed on?
Not to long ago goverment debt was collected by the lenders Navy.
Now that is no longer a common practice...
what
could the federal reserve leagally do
to collect on our default to them?