US debt passes 13 trillion

[Fuzz]

will this affect other countries as well

the debt rising won't, but what it's leading to will - and that is the collapse of the dollar. it will affect every nation because the united states dollar is the reserve currency of the world, meaning any country that wants to do international transactions must buy, hold and sell dollars. but the nations that will feel it the most are the ones dumb enough to buy our bonds and treasuries in debt (namely japan and china). china's currency is so closely tied to the dollar that they literally have to keep buying american debt in order to keep their currency afloat while purposely keeping it deflated.

there are three things america can do with the debt crisis:
1. default on the debt. a hard choice for politicians but a good way to start clean. the problem is our only excuse for defaulting is "we spent too much money on things we didn't need or couldn't afford", and i have a feeling no country is feeling that apologetic. also all the bonds and treasury bills maturing would be eliminated and have zero returns. this doesn't hurt america but it deeply hurts foreign debt buyers.

2. print trillions of dollars to pay it all off. this will hyper-inflate the dollar, consequently making it worthless. the dollar will have to be thrown out and america will spend decades recovering, as well as most of the world. this is the most likely option a politician is to choose, as its short-term benefits outweigh the damage it will do to generations after them. but they don't care because they are only in it for the moment and instant gratification of constituents who are too stupid to realize what they're doing.

3. balance the budget. the most obvious choice but something politicians are unable to do because they do not understand economics. so hopefully americans will stop electing dingbats who can only make a good speech and get in bed with lobbyists and start electing businessmen and women with fiscal responsibility at the forefront of their campaigns (and a track record to prove it).

The could just sharply raise taxes and cut back on spending... Of course, it would take a long fucking time to do this and ruin our economy a little more. But at least it would also lower inflation.

[trent bortknob]

seeing as the only shit i know about poilitics or economics is a little bit of political philosophy, what can we possibly do as citizens to combat this

are there any politicians who are actually notable and have a feasible plan of action that we could support

[ansel]

if worst comes to worst, i'll fill out the necessary paperwork and spend a day driving to canada to begin my life as a polite, clean lumberjack

[MarcK]

if worst comes to worst, i'll fill out the necessary paperwork and spend a day driving to canada to begin my life as a polite, clean lumberjack

or a polite, clean hobo in a city

[rtil]

The could just sharply raise taxes and cut back on spending... Of course, it would take a long fucking time to do this and ruin our economy a little more. But at least it would also lower inflation.

it is mathematically impossible to tax our way out of this

seeing as the only shit i know about poilitics or economics is a little bit of political philosophy, what can we possibly do as citizens to combat this

are there any politicians who are actually notable and have a feasible plan of action that we could support

in my opinion, the following people in office or running for office are the people who will be central to fixing this problem. why? because they're not politicians. career politicians don't have the answers. they just like to spend money and give fruity speeches. we need to put fiscally responsible business people in office.

my favorites:
ron paul (R-TX) HR, in office
rand paul (R-KT) senate, elected for primary
alan grayson (D-FL) HR, in office
peter schiff (R-CT) running for republican senate primary
paul ryan (R-WI) HR, in office
and essentially anyone who voted yes on the vitter amendment in the senate and co-sponsors of ron paul's audit the fed bill, although many of them are only doing it because it's current popular opinion.

[Fuzz]

All of this reminds me of that episode of Mission Hill when the country is in crisis and it's up to actors and movie stars to get us out of this mess...

[Clock-Ninja]

It's all imaginary numbers and symbols. None of it actually means anything, humans created a system like this due to over population. If we all lived off of the land instead of a shitty imaginary system, the earth wouldn't be dying like it is now.

[rtil]

It's all imaginary numbers and symbols. None of it actually means anything, humans created a system like this due to over population. If we all lived off of the land instead of a shitty imaginary system, the earth wouldn't be dying like it is now.

shut up you damn hippie

[redmongoose]

fuck the debt when are they going to figure out a way to clean up all that fucking oil that doesnt resemble a rube goldberg machine

[MarcK]

I wish we never had computers

[billy]

America isn't going to vote for someone who isn't a politician. It's sad but it just isn't going to happen. We're fucked.

[rtil]

not as long as the establishment parties have a chokehold on the presidency, no. but there\\\'s already non-establishment, non-politician congressmen in office and their support is growing because people are sick of both major parties and the candidates they endorse

this is the first time in american history that voters consistently are dissatisfied with both republicans and democrats. and it\\\'s unlikely to change as long as the economy keeps going the way it is

[Fuzz]

not as long as the establishment parties have a chokehold on the presidency, no. but there's already non-establishment, non-politician congressmen in office and their support is growing because people are sick of both major parties and the candidates they endorse

this is the first time in american history that voters consistently are dissatisfied with both republicans and democrats. and it's unlikely to change as long as the economy keeps going the way it is

Is that why the libertarians are getting so much more support?

[rtil]

not so much libertarians, but people with libertarian ideals. the founders were libertarians, so that's where all this "tea party" stuff comes from. half of those people are morons, but it's important to note that the tea party movement wouldn't exist without ron paul, and he's helped 2 or 3 people get in to office so far. and now it's so big they don't even need his help anymore.

[jroc]

I'd vote for you, rtil c: