Originally Posted by Guest

I don't think we really want to know the truth. If, we did, who would we ask-the government??????

Fact-I'm not sure but from what I've read were we to make a concerted effort we could pay off our currently acknowledged debt of TWENTY TRILLION DOLLARS in FORTY-FIVE YEARS.

Chance of the US staying on a repayment plan for 45 years is ZERO. I use the term acknowledged debt because that 20 trillion dollar number is using very creative accounting to understate the real debt.

Do we really want to pay this debt? Are we willing to make the necessary sacrifice to do it. The historical answer is a clear and loud no way.

Where would you cut. For most of us we would cut people other than ourselves. Cut medicare? Actually they have, we just went on medicare and due to having saved, we get to pay twice the minimum and we have no inflation protection. Cut, social security? They are talking about it.
They spent the money they stole from me to pay for promises while they spent my money to buy votes from people who retired before me.

Would you cut the military? We currently spend more on our miltary then the entire rest of the world does. When, is it enough? We just launched another aircraft carrier our fleet of aircraft carriers is over 26. I seem to think it is 27 or 28. France has 4. Like the Bismark in WWII they are simply too big and TOO EXPENSIVE for any enemy not to attack and destroy it. Each aircraft carrier is several thousand troops, several hundred airplanes, ammunition, fuel for the planes etc etc etc. Bottom paint for a boat is like $40 a qt. How many quarts does it take to paint an aircraft carrier? If, we have to ask, AND WE DO OR WE SHOULD, perhaps we should not be building them.

We currently have fiat currency. Nixon removed all gold or silver backing for the US dollar.

Our dollar is now based on the,"full faith and credit of the United States. For any of you thinking I am crazy, reactionary or????????? Whether you are a republican a democrat or?????????? Do you still have the same faith in the credit of the United States that you used to have????.

This too is not new. We all know about rampant inflation in Germany before WWII. It was caused by them printing worthless money to pay WWI debts in a time of world depression. I have a pile of these Deutschmarks that belonged to my grandparents. Even the German government will not honor them. Germany unofficially went bankrupt. ASIDE: not mine but if you want some of this worthless currency you will find it on ebay at like thirty- five cents per million.

History, may one day recall today as to how the US went bankrupt paying for TOO MANY WARS, aid to the poor and aid to SENIORS.

Just as today, it was not just Germany printing worthless money. I have a perhaps more interesting printed money from Spain. What it says is we apologize for the poor quality of this money. After this financial trouble is over we will replace it with better quality money.

HISTORY-says, perhaps like GREECE, we will not address this until it explodes.