What is the best way for America to get rid of its almost 10 trillion dollar debt ?

Answer 1

desolve the fed reserve it is not federal and it is the reason we are in this mess in the first place without the fed reserve governments can make their own money debt free and would only have to do limited borrowing. it was passed into law illegally and is a fraud and no one is responsible for debts inccurred due to fraud except the fraudsters.

RRRRR

Answer 2

i like the Ron Paul bandwagon. I advise, i can work out the attraction. he's elementary. in spite of the undeniable fact that, elementary =/= genuine. I actually trust him on many stuff... yet he's flat out incorrect on on financial coverage. 'ending the Fed' may well be a catastrophe. The Fed isn't applicable, and it has arguably contributed to two recessions, in spite of the undeniable fact that it is the lesser of two evils. No united states of america (actually none, all of them left it) interior the international continues to be on the main effective anymore for a reason: it somewhat is financial suicide. Paul has self-taught and remoted himself to Austrian theories. he's no longer an economist. he's a doctor and baby-kisser. 5 years in the past formerly I had an coaching i presumed his spiel on the Fed. It sounds wonderful and logical formerly each and every little thing. yet as quickly as you get a actual coaching in economics, you recognize how risky it actual is. it rather is to no longer say the Fed can't be altered some, however the U.S. desires a necessary financial corporation interior the international financial equipment.

Answer 3

Stop all wasteful spending , that alone would pay it off ....

Some say tax the rich ??/ I own a small business that has a gross income of 400 plus grand per year , by the time I pay workers ,then I have to match all of their income tax deductions for state , federal , and social security , then I pay their health insurance premiums , pay commercial insurance on the work trucks , buy tools for the jobs pay my business taxes , and the premium on a million dollar liability policy in case there is damage to property on the job . etc.. I have my income taxes to pay as well , leaving me with 80 to 100 grand net profit .. I send the Govt. checks for over 30 grand per year , which is more than most of those " tax the rich " people make a year .. If my taxes go up anymore , there is going to be half my workers gone ..most of them have been with my dad since the late 60's when he started this company , they will be out of work and will not find a job making the money they make with me ...

I know there are super large companies out there with billion dollar profits , and minus taxes ,and payroll they still have a ton of money , but you raise their taxes and we will pay more ..
Didn't the democrats say they were going to tax the rich ?? why are they wanting a 50 cent tax increase on gas , and a carbon tax , and do away with the mortgage deduction on taxes ....?? sounds like they are coming after the working people instead of what they said ....so that eliminates a democrat as a solution ...
why not fine congress when they do not make progress every working day , if they do not make progress on the job , do as others jobs do ..send their @ss home with no pay , cut out federal credit cards , most of the senate needs to be in DC working instead of bouncing around all over the world at my expense ..make them buy their own breakfast , lunch ,and dinner , do away with the catered meals at work on our dime ....there are plenty of ways to do it , there is just no one with a backbone to get it done ....

Answer 4

Wait until we are out of Iraq, pull all US forces out of Europe and bring them back to the US. That is the relatively easy step. Step two, the president or presidentess, who knows how long Iraq will need shoring up, anyway, approaches the podium and announces that the US government will no longer honor any debts it may have incurred.

It's a terrible solution, because it would end with an isolationist US of A, not all that bad actually, and a nuclear war with China. It is the quickest way out of debt, but as they say there is no short to cut to anywhere worth going.

{Edit}
How can you mark this down? All I'm saying is that it would eliminate the national debt, anything else aside.

Answer 5

China has the power to severely damage the American economy, but they never will. Why? Because America owes China billions, and if the American dollar drops too low, it will be a financial disaster for China. That is why it is in China's best interest to keep the US economy strong, and the US dollar high.

So think twice before eliminating the debt.

Answer 6

Stop funding the economy with money not backed by gold, stop outsourcing and start exporting.... More money to education so we can have a more valuable workforce

Cut spending to military to about half of what it is (don't worry NRA fans, we will still be spending well over what any other country is)

Answer 7

THREE WORDS...
muzzle nancy pelosi
confiscatory taxation, failed welfare schemes and an anti business attitude for government caused this and the opposite will end it. the pelosi/reid regime wants to return us to a tax and spend economy and hopefully the electorate will wake up before its too late.

Answer 8

It would be pointless to do so. For one thing, the currency is based on the existence of a debt.

Answer 9

Hon, when our government gets its tax returns then they should pay down the debt.

Answer 10

Cutting back on government spending would be a great place to start.