I agreeto Idea What about the Debt.....?
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Strategic Planning and Budgeting »

What about the Debt.....?

Why Is This Idea Important?: Because it's common sense really.

Ummmm HEEEEELLLLOOOO......how are we supposed to pay off this outstanding debt???? Hey by the way, have you noticed even American Freedom has a Made In China label on it?

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Submitted by 1withtheforce 3 years ago

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Comments (5)

  1. blackmonrikker

    I think we can deal with the debt via a two-fold process. First, I believe the sudden spike in gas prices in Summer 2008 caused the economic meltdown. People started spending disposible income on the transportation staple. With gas at $2.50/gal the economy is currently on an upswing.

    Noting this, I think President Obama ought to impose a price cap on gas, say, $2.70/gal. Gas would not be allowed to rise above this price, nor go much under it in the winter.

    Second, I think the government should double the federal gas tax from 18 cents/gallon to, say, 40 cents/gallon. This simple move would generate hundreds of billions in new revenues. Coupled with the price cap, the only people complaining would be the oil companies, since their windfall profits would be diminished.

    Oil is the lifeblood of the economy. It is also a diminishing resource. Limiting oil profits would give oil companies incentives to move on to cleaner sources of energy.

    3 years ago
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  2. 1withtheforce

    I have to disagree with you claim about the gas spike causing the meltdown although I'm sure it helped. What really caused the meltdown it the total disregard for the money printing press. Printing money out of thin air it just economic suicide.

    3 years ago
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  3. 1withtheforce

    Oh and if you raise taxes on companies who do you think are going to pay those taxes, the company? Of course not, they will just unload the taxes on the consumer.

    3 years ago
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  4. blackmonrikker

    Of course, consumers will pay the taxes. But the price cap will ensure that the price of gas does not hamstring the economy again. The idea is to increase revenues and address the debt without shackling the economy again.

    As far as printing money is concerned, that started during the Reagan administration when we went from being a net creditor nation to a net debtor nation. America is bankrupt. Whether you blame the tax and spend Democrats or the borrow and spend Republicans, the net effect is the same. I'm just offering suggestions to mitigate the effects of long term governmental fiscal mismanagement.

    3 years ago
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  5. 1withtheforce

    That just seems like more of a patch to me. Its going to take A LOT more than just gas to pay off this $11, 390, 097,252,206.57 as of the 4th of June, 2006 at 3:35pm and rising over $3 billion per day.

    3 years ago
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