How to fix a $10 trillion national debt
How do you fix a national debt that’s growing at a rate that is so out of control?
There’s only one way to do it, and it’s all based on the same simple concept: Debt is bad.
We can fix it.
The idea that our country is about to default on our debts is simply untrue.
The United States has no money problem.
The country is already paying off our debts.
The United States is not facing a debt crisis, as the media constantly portray it.
Our debt is a product of government spending.
We have an $8.4 trillion national-security budget, with billions more coming on line each year, according to the Congressional Budget Office.
We spend that money on our military, on our veterans, on border security, and on education, among other things.
We don’t have a national-debt crisis, because our debt is not a product, but a burden.
As a nation, we have paid off the debt in full.
It’s been paid off for generations.
That’s not the problem.
The problem is the federal government’s ability to pay.
The debt is paid in full, but because it’s not a payment, the government is unable to make payments.
As a result, we’re in a vicious cycle of debt and spending.
Our nation is on the brink of default.
In fact, the Congressional Oversight Panel has said that the U.S. could default on $40 trillion of its debt in the next decade.
If the federal debt were to hit $50 trillion, it would be the third-largest default in American history.
Our debt is unsustainable.
Our government is not borrowing money from the American people to fund the public education system.
We are borrowing money to fund wars, to fund programs like the Patriot Act, and to fund tax breaks for millionaires, billionaires, and other corporations.
It would be like going back to a time when we were borrowing to build roads and bridges.
It is the wrong way to go about things.
Our government is spending billions of dollars on military spending.
The Pentagon has more than doubled its budget over the past decade.
We’re spending more than $600 billion a year on military personnel, including hundreds of billions for the National Guard.
We have the highest defense budget in the world.
The Department of Defense spent $1.1 trillion in 2016, according the Committee for a Responsible Federal Budget.
Our military spending has more money than we have defense funding in the entire world combined.
In fact, our military spending is more than the combined budgets of the United Kingdom, France, Italy, Australia, Japan, Russia, Canada, the Netherlands, and Germany.
Our country is in debt.
This means that we owe a tremendous amount of money to foreigners, many of whom are not even Americans.
We owe $17.8 trillion in foreign debt, which is nearly double what we owe in the United States.
Our foreign debt exceeds $250 trillion, and we have more debt than the next 19 countries combined.
And our debt to the public sector, the public-sector employees, and the public schools has increased by over 100 percent over the last decade.
The federal government is responsible for a vast amount of the debt, and our government is in a race to the bottom on the payments that are due.
This debt is out of balance, and Congress needs to address it.
As long as our country continues to borrow to pay off the national debt, we will continue to spend on programs that are not designed to serve our national interest.
That means we will spend more on defense, more on war, and more on infrastructure than we need to, leading to a growing national debt.
The debt has to be fixed.
We must begin by fixing the debt that the government has accumulated.
The government must pay down its national debt in one fell swoop.
If we are to avoid default, it is essential that we start by paying down the national security debt.
We cannot continue to fund our military and national-defense spending without raising the debt.
It’s time to get tough on our debt.
The time has come to take the lead.
The American people deserve a government that can afford to pay its bills, and that can pay down the debt without causing the country to default.
Let’s fix our debt, starting with our debt from the Federal Reserve, which has the power to print money at interest rates that are far below what we pay on our credit cards.
We need to abolish the Federal Credit Union Act, which gives banks the power, and they have abused that power by giving big banks and the financial sector unlimited power to dictate terms for credit card transactions.
They can impose interest rates as high as 40 percent, and give lenders the power and flexibility to raise interest rates up to 60 percent, which would result in a massive increase in our national debt every single day.
We need to end the “too big to fail” system.
That system has created a bubble that is ballooning the size of our