Posted by mark on January 27, 2009 at 14:06:31 from (172.162.30.175):
In Reply to: Re: Pelosi posted by Howard H. on January 27, 2009 at 13:44:59:
Howard,
All political leanings aside.....right, left, center, upside-down, whatever,.......the deficit will never be under control, nor will the loans ever be paid off......it is simply too big and too far gone.
The Fed has only a few options: Do as our debtors have historically done......default, or ask for debt forgiveness. Lastly...have a world war, where we see our economy rebuilt due to mass manufacture of war materiel.....as during WW2.
I think the Government should just declare bankruptcy.......tell the lenders...we're broke, we can't/won't pay and you can't get blood from a turnip.
As it is, our fine politicians seem to think the answer is...another new tax or an increase of those already on the books. Sad thing is, one day the citizens will have to say......we're broke, there is nothing left to take...we're bankrupt and you (the Feds) put us there.
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