We've passed already and are digging the whole deeper by the minute. There is no possible way to pay off that level of debt.
Fucking hell.
Yes. Exactly.
Its impossible to pay back the plan is to just switch currencies if you ask me.
Gold standard?
Who knows.
No, digital. The debt is impossible to pay back because that was how it the system was designed. They've added things along the way to enslave us and ensure we stay enslaved. Property taxes ensure you can't ever truly own your home. Inflation ensures the costs of everything increases, this ensures people keep working and that ensures taxes are collected.
The monetary system as we know it is unsustainable.
It can't be paid off. The system wasn't designed so it could be paid off. The system was designed to enslave people and it is working so well they've applied it to individuals (credit cards and student loans) as well as governments.
I have lots of problems with the Holy Bible, but there are lessons that make sense no matter the era, and this is by far one of the best lessons from the Holy Bible - The borrower is slave to the lender.
The debt is 27 Trillion as the Professor said.
There are 18.4 millionaires in the u.s. alone.
If they were expected to pay half, over a ten year period, they would pay an additional $73,369.56 per year.
With the same setup for the other half of the tax base, say 150 million taxpayers, but at a twenty year repayment on the debt, they could expect to pay an additional $4500 a year in taxes.
In 20 years time, no debt.
It would of course be painful, and wildly unfair.
But far from "impossible."
Whether it would be politically possible is another question entirely.
Considering that's not including inflation or additional spending? that's bad. Has to be at least attempted or it'll just keep going up though.
It does show that it is possible, it'd suck but it is possible, at least in principle, to pay off u.s. politician's debts.
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