The national debt is expected to hit a record high as soon as this week, crossing a major threshold of $40 trillion. Congressional correspondent Lisa Desjardins explains why that milestone is a warning sign for many economists.
Nobody’s going to like this answer. But the simple reality is this. Basically everything has to be cut.
Actually, exactly the opposite, corruption needs to be cut,
Cutting anything else just makes the problem worse.
Yes, the rich need to pay their fair share. But there’s no way we can tax our way out of that kind of debt. It is not realistic. It is pure fantasy to think a person a company an organization, a country or anything else can literally bring in that kind of money. It’s impossible.
You dont get out of this by cutting, that just leads to a depression.
You get out of this by aggressively going after corruption and corrupt loans, declaring those loans to be void, and enforcing that.
The other alternative is the entire country goes bankrupt.
Cutting everything is how the country goes bankrupt, thats literally the whole goal.
The very wealthy get in positions of power, and make the goverment go into massive debt giving them huge paydays. Then you cut all the things the government is supposed to do to service that "debt." The economy takes a nosedive, but thats ok, you can just borrow more money to pay the very wealthy. Then make the government decalare bankruptcy, and "sell" the government off to private holdings (who own all that debt) for pennies on the dollar.