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| -Land of the Free |
| The U.S. Has No Choice but to Undertake Radical Economic Change |
| 2024-04-09 |
| [Townhall] Burdened with $34.5 trillion in national debt that is currently growing by $1 trillion every 100 days, the U.S. economy is headed for disaster. It falls on the next administration to change that trajectory while also introducing policies that increase and broaden economic growth and wealth creation for everyone. Changing course is not easy, but people are waking up rapidly to the shocking reality that we are on an unsustainable course. Those who recognize that financial collapse is at our door can’t unsee it and they will embrace fundamental change from unconventional leadership. Correcting courses requires both the acceleration of private-sector economic growth and a reduction in the public sector. What holds back the U.S. economy from achieving average GDP growth rates above 3%, which were common in every decade after World War II up until the turn of the 21st century, is the growth of government spending and government debt. The widely acclaimed 2009 analysis by Harvard economics professors Carmen Reinhart and Ken Rogoff—which concluded that national debt levels above 90% of GDP significantly reduce a country’s economic growth rate—explains in part why U.S. economic growth has become more anemic than previously. The deficit spending of the Obama administration, which broke through that 90% debt-to-GDP ratio in 2010 with 3 years of trillion-dollar deficits, marked the steepening trajectory of our path to insolvency. The U.S. debt-to-GDP ratio now exceeds 122%. Our current $34.5 trillion national debt has grown eightfold in the sixteen years since George W. Bush passed the presidential mantle to Barack Obama. What is increasingly troubling is the extent to which the U.S. government is borrowing new money to service old debt. And that borrowing is adding over $11 billion to the national debt every day. And that additional $11 billion to the national debt daily is financed with additional borrowing. And so on… until the compounding of national debt ends in financial collapse. Having the world’s reserve currency notwithstanding, the United States cannot escape this fate unless it dramatically changes course. Read the rest at the link |
| Posted by:NoMoreBS |
| #13 We just don't have 'firearms' literally by the millions. How many citizens of our neighbors own these things? |
| Posted by: Procopius2k 2024-04-09 18:08 |
| #12 ^Hard to be Reflective 24/7 |
| Posted by: Frank G 2024-04-09 18:02 |
| #11 Sorry, I guess we're talking different collapses. Anyways, it's 0100 am for me. Good night. |
| Posted by: Grom the Reflective 2024-04-09 18:00 |
| #10 You men the ones that aren't already here Grom? Latest figures suggest one quarter of all Hondurans and Guatemalans are already here for example... As for a foreign nation invading the US, even the remnant combat power of our military can cope with that, not to mention the 16.2 million veterans, almost all of whom are well armed. Pretty sure even China cannot sustain the sealift needed to invade and sustain their invasion force. The potential catastrophic mess is the internal furor that will start early-on as urban parasitic forces meet unleashed Traditional America at the urban-suburban-rural interfaces along the major transportation corridors, a convoluted Lexington-Concord moment, and the Marquis of Queensbury Rules/Veneer of Civilized Behavior falls away for the latter. Once that great uncorking takes place, a whole lot of attitude will emerge. |
| Posted by: NoMoreBS 2024-04-09 17:39 |
| #9 ^I mean neighboor countries. |
| Posted by: Grom the Reflective 2024-04-09 16:27 |
| #8 I invite them to come try to acquire. That's part of the winnowing process. |
| Posted by: M. Murcek 2024-04-09 16:20 |
| #7 #5,6 You trust non-acquisitiveness of your neighboors? |
| Posted by: Grom the Reflective 2024-04-09 16:06 |
| #6 That interregnum is going to be interesting to people who had no use of the Constitution except to con the rubes and a lot of Karens who'll discover their harpy behavior won't go far. |
| Posted by: Procopius2k 2024-04-09 16:01 |
| #5 Something comes out the other end of the crater, it will be a shadow of what was, but the interregnum is going to be very ugly. |
| Posted by: NoMoreBS 2024-04-09 14:22 |
| #4 The trick will be to make sure that when the music stops, the appropriate people are standing on chairs with rope around their necks. |
| Posted by: M. Murcek 2024-04-09 11:52 |
| #3 "If something cannot go on forever, it will stop” Stein’s Law |
| Posted by: Beavis 2024-04-09 11:46 |
| #2 ...When it happens, it will be fast - a week or so, maybe just a couple days - but when the dust has settled, and eight dollars out of every ten or so in the economy stops coming out of Washington, we're going to be Third World. Mike |
| Posted by: MikeKozlowski 2024-04-09 11:18 |
| #1 The price of bailouts forever mounts. Instead of allowing things to die and be replace in relatively small amounts they're rushing to the ultimate end in which it all dies. |
| Posted by: Procopius2k 2024-04-09 07:46 |