The Question just begs to be asked. With the National Debt approaching $20 trillion, how are we paying it off? Reducing it?

2016-10-07T15:32:16-04:00

Response by MSG Private RallyPoint Member made Oct 7 at 2016 4:00 PM

2016-10-07T16:00:47-04:00

Well, since no bill collectors are being sent out from the US to the countries that actually owe us money......

Response by MSgt James Mullis made Oct 7 at 2016 4:19 PM

2016-10-07T16:19:31-04:00

We don't...that's the point...we'll be paying interest to the international banks in perpetuity...or as the line in the song 16 Tons goes, "Saint Peter don't you call me 'cause I can't go / I owe my soul to the company store".

Response by Capt Private RallyPoint Member made Oct 7 at 2016 4:28 PM

2016-10-07T16:28:26-04:00

We are not. Instead we are still borrowing.

Response by Sgt Wayne Wood made Oct 7 at 2016 4:31 PM

2016-10-07T16:31:49-04:00

with every day that goes by we print more currency. inflation is not appearing because our economy is stagnant. every new dollar we print diminishes the value of ALL dollars. The world system is predicated on a stable dollar, which no longer is stable. anybody see what's happening?

Response by Capt Private RallyPoint Member made Oct 7 at 2016 4:50 PM

2016-10-07T16:50:17-04:00

The next obvious question is who that is running for president will do anything?

Response by SSG Private RallyPoint Member made Oct 7 at 2016 5:34 PM

2016-10-07T17:34:05-04:00

The whole world will just push the reset button and forgive everyone's debts. We'll start over at zero because clearly nobody is winning this game.

Response by CPT Pedro Meza made Oct 7 at 2016 6:06 PM

2016-10-07T18:06:34-04:00

If we continue to fight wars the debt will go up, and if we give tax breaks to those that can afford to pay the debt will not be paid down, so the answer is the middle class is the Golden Goose.

Response by SGM Mikel Dawson made Oct 7 at 2016 8:19 PM

2016-10-07T20:19:23-04:00

Until everyone realizes it is going to take everyone's sacrifice to get the debt back in check, nothing will happen. The size of government has gotten way out of hand. Example for me: Home Land Security is redundant to the FBI. Some will say no they do way more, but was charged with this for so long. Also untie the Border Patrol and let them do their jobs as well.
Realize we "Can't save the World". Why are we loaning money to every tom, dick and harry nation across the world when we are borrowing money from China and other countries? Cut out the middle man and let tom, dick and harry ask China for money.
Until Congressmen stop being Democrats and Republicans and start being Americans nothing will happen. Too much thinking of themselves instead of the people who voted them in office. Make it illegal for money grubbing lobbyists to be with in a 100 miles of D.C. and if a Congressman misses a vote they loose their pay for a month. Start docking Congressmen's pay for failure to act.
Revamp the tax laws. I know this will hurt some, but make a flat 15% tax across the board, no ifs, ands or buts. People will say this will hurt the charities, but we got to understand, once we start down the road to "serious" recovery, everyone is going to pay, everyone is going to feel the pinch.
Get rid of the Federal Reserve. This is nothing but a bunch of money grubbing bankers slowly bleeding our nation to death. We already have a Department of Treasury, this was suppose to be it's job. Once we fell off the gold standard we got screwed. I really doubt we could go back to it now, but it would be nice.
Everyone getting food stamps, welfare and such needs to start working for their money. We can't continue to be a welfare state and get out of debt. Too many people want to sit around doing nothing and get paid for it. There is plenty of work they all could do a minimum of 20hrs a week to start.
This isn't much and don't know if it would really help, but it is a turn down the right road.

Response by MSgt John McGowan made Oct 7 at 2016 8:26 PM

2016-10-07T20:26:02-04:00

We won'the pay it off. Impossible to do. And more is run up each day. Remember we have to support the world. As long as our rich and powerful have plenty who give a crap?

Response by CPT Jack Durish made Oct 7 at 2016 8:34 PM

2016-10-07T20:34:11-04:00

That's a helluva good question. There's not enough money or credit to repay it. So we're just printing money debasing it's value. In other words, we're paying pennies on the dollar. To really pay it down with currency of real value, we must create new wealth. However, that won't happen until the government stops getting in the way. Reduce government by half. That would be a good start

Response by MSG William Wold made Dec 17 at 2020 9:06 PM

2020-12-17T21:06:21-05:00

It’s above my pay grade. But the current administration’s plan was to bring the Federal Reserve(which by the way is not the government ) into the government, hand them all the debt, they go bankrupt, the US dollar goes back on the gold standard. It all gets reset. However now they there appears to be an be an administration change, which will stop that, keeping the debt in place, the lockdowns will bankrupt everything else, the new administration will use it to their advantage and make more people dependent upon the government where they can control them. We’re almost at negative interest, you can get a CD now for 10,000, and in 6 months it matures at 9,500.