IMHO the greatest threat we face. I saw a proposal which would allow citizens to opt into dedicating a portion of their paycheck towards the national debt. My opinion is that we already pay taxes and isn’t some of my money supposed to be used for that exact purpose? I didn’t create the problem and have been a tax paying productive citizen for most of my 67 years. Government spending created the problem.
Regardless of how it gets done (and I don’t have the answers), it’s my opinion that when the debt comes due (and it will), it will cripple and crash the US like nothing we’ve seen.
I agree, and nobody is talking about it. We are very close to national repudiation of our debt, and that could lead to forced adoption of central bank digital currency. If that happens, it’s curtains for freedom.
One possible path to pay down the debt would be to start the process of slowly selling federal land that is not part of the national park system. Some of the Western States have 70% of the land ownership held by the US Government.
I live in Arizona and trust me while we have many important National Parks here much of this land could be put to better uses in private hands.
I know this will upset the tree huggers but the feds do a terrible job of managing these federal properties.
This would need to be evaluated in more detail and you would not want to put all of these properties on the market all at once but if you can slowly pay down AND create economic opportunities and growth it could be a win-win.
Just a thought and maybe just one of the tools used to pay down the national debt.
Ive been down the rabbit hole of worry about the debt. However the more ive learned… im not so sure we are on the path to demise. Yet at least. To take an abundant perspective on the world and money… we in our lifetimes may see things like robots, AI, amd abundant cheap electric energy path the way to a very productive future for america. Production in ways that could be off the charts and grow our way out of the debt being such a burden. Now to mention the dollar and our place in the world, and the comparison of debt and instability in other nations… we are the cleanest of dirty laundry.
I think scarcity mindset has the fear aspect of the debt focus. This leads us to want to limit, restrict, get ours before its too late. An abundant mindset shows us so many avenues to grow out of this problem. This is not only my opinion. Im regurgitating from those in the know. It takes a while to go through the initial fear consumption out there of how its all going to fall, gold will be the currency again, we only consume in U.S. and then to come out on the other side and see the abundant opportunities for massive massive growth and propserity through demographic changes with productive robots, cheap energy, the dollar hegemony and cyrpto even linked to it, and not understand the future is bright after all
Apply a 1 cent per share of stock traded to be applied to debt reduction and sunset the tax once it has been reduced . The debt would be paid off in a matter of a few years.
End Most Federal Departments and Sell off their Assets to Pay Down the Debt. While @Wellhello makes some good points, the fact is that the bureaucracy is so entrenched and so damaging to productivity, ingenuity, and advancement, that the unhindered spending by Congress incentivizes every evil imaginable. They must be reigned in. The marginal revenue product of debt continues to decrease, meaning that the ball and chain of this debt is dragging us deeper into the abyss. It is destroying productivity, which is the livelihood of any nation.
It is not simply a matter of being able to grow our way out. The gravy train of corruption destroys real lives on a daily basis. Millions are suffering unnecessarily. The opportunity cost of this bloated deficit spending and untethered debt means that everyone suffers, but the poor suffer disproportionately, and it will only get worse. It leads to an inevitable loss of faith in the currency when then leads to avoidable disasters.
The simple answer is to do the right thing. Eliminate most of the federal government and the leeches that feed off it will dry up. They will have to find productive careers in ways that actually serve humanity.
Have billionaires donate money to pay it down so they pay same tax rate as the rest of us. If DOGE says there will be hardship, then billionaires should participate in that too.