all in all, the politians are not willing to addres the root problem. And average citizen are not educated to understand the issue and not willing to learn some history lesson.
So here are some good paragraphs from armstrong.
If you simply add the accumulative interest each year, you will find that this is driving the debt higher and thus not even any motion to compel a
BALANCED BUDGET will have any effect whatsoever on the stopping the crisis we now face – the extinction of Western Civilization percolating with nuclear weapons. The United States poses the exact threat that USSR did upon collapse – rouge nuks in the wake of political disintegration!
The debt is on automatic pilot. It will grow at the expense of
EVERYTHING ELSE until it defaults. The consequence of all of this debt creates a serious problem. Not even a BALANCED BUDGET is a solution because the interest on existing debt will continue to rise as a percent of total. This means that ALL other spending social and military will be crowded out by the obligation to service the debt by paying interest of which 40% is exported.
The accumulative interest expenditures will simply rise to the point they bring down the entire system. For you cannot cut the interest expenditures without defaulting on the debt. Austerity is not the answer for cutting spending, raising taxes, will reduce economic growth, increase unemployment, and cause a further decline in tax revenues. There is just way too much debt to get out of this trap without some clever default. And, on top of all of this, the USA is in the best shape compared to Europe and Japan. The longer we postpone political-economic reform, the worse the problem is becoming. We are standing on the edge here about to commit suicide. We cannot hunt down everyone for taxes. That will reduce the
