re: How do we start over with no national debt?

Lets just do the same thing Biden is doing with student loan debt, lets just forgive the debt and start over

Even if you started today with a clean slate, AT, as soon as you scribbled the numbers there would be a Debt. The Government spending more than it takes in via taxes defines the Debt, and given societally comprehensive Government expenditures (Socialism), the only way debt is nullified is to redefine 'debt'. I.e., redefine/alter our Government as Socialist.

The most outrageous statement that Trump has made (IMO) was the "we will never be a Socialist Nation". That ship has sailed long hence.

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How do we start over with no national debt?

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Tell the Fed we've paid enough and to frick off.

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fiat money policy


Yes.

And once you deploy that system, the final outcome can't go anywhere but eventual corruption/collapse.

It' predestined.

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There may be a way out of this collapse , Receivership.

Place the entire federal government into Receivership.

Congress could appoint a judge to oversee this process since the country technically cannot declare bankruptcy.

Layoff all federal employees except the USPS and Customs.
Send all regular military to state national guard and have only 2 days of training per month (get national guard pay).
Sell all federal assets (buildings, equipment, military equipment (here is your chance to buy an F-15).

Cut congressional pay to US median average pay and no benefits, same for president and federal judges. Eliminate all staff.

Receiver re -negotiates all federal debts.

Eliminate fiat currency. Eliminate the federal reserve.

Enforce a federal balanced budget going forward.

At the moment, that 33 Trillion is basically a fake number, since the other nations could not call it in. All of the world's economies are interconnected to us. If China owned 10 Tillion of that debt and called it in, and we can't pay it, it would crash our economy, which would crash their economy.

The only way I can imagine avoiding complete collapse and then a new beginning is for some unlimited almost free energy source (cold fusion) to emerge along with robots that will make the goods and food people need almost free and in unlimited quantities.

Money and debt would have no real meaning.

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There's no country that's going to come get their debts from the US. Except maybe China.

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China holds less than 1trillion of our debt


They have been diversifying out of the dollar for a decade

We have to keep fighting for freedom across the globe.

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Even if you started today with a clean slate, AT, as soon as you scribbled the numbers there would be a Debt. The Government spending more than it takes in via taxes defines the Debt,

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And good luck borrowing more money after you screwed over the people you borrowed it from. So...hyperinflation.

There is no silver bullet.

Step one-balance the annual budget
This cannot be done without entitlement reform

Step two-keep paying down your debt on time.

Step three- generate some small surpluses to accelerate step two.

In 30ish years, we can wipe out the national debt. The hardest part is entitlement reform.

Lol Covid has US fingerprints All over it. Was used to create a buffer as US began transitioning to decoupling