Can someone please explain the theory behind bankrupting the treasury?

Question

Supposedly the Republicans bankrupted the treasury deliberately. There was some goal they wanted to accomplish by bankrupting the treasury, what was it? What benefits will we see from bankrupting the treasury? Could there be any drawbacks?

Answer 1

They don't believe in programs like Medicare and Social Security. When the best estimates showed those programs were in financial trouble, instead of finding a way to restore them to solvency, they decided to hasten the process by bankrupting the country. The money that would have gone to people who paid into those programs has gone into the pockets of Republican campaign contributors in the form of tax cuts for the rich, corporate welfare, and wasteful government defense contracts. It's a Robin Hood in reverse strategy. I doubt they've considered the sweeping impact that it will have on the value of the dollar, or world markets, or the honest working Americans who needed those checks to live on. In a word, it's insane.

Answer 2

If you bankrupt the Treasury, there is no "extra" money to slap into social security that is loaned out to other programs.
this serves several purposes:
1) sabotages social security, to prove Bush right that it needs to be changed putting social security funds into his buddys' pockets
2) leaves the next guy with a severely unbalances budget that can be blames on social programs, and if not blamed on them, forcing them being cut.
3) increasing the national debt, to devalue the dollar allowing oil companies to raise prices and have more US dollars on hand when it increases in value.
4) devalues the dollar to promote foreign investment, and allowing Bush's Saudi friends to get more bang for their buck when they buy up America.

Answer 3

They are doing so by lining their own pockets with the money. They are also buying job security from their corporate puppet masters.

Answer 4

What can you expect if you elect an idiot and warmonger?