Doug Casey on the Debt Ceiling Farce and Why the US Should Declare Bankruptcy

The alternative to the U.S. government declaring bankruptcy is turning our progeny into debt slaves. From Doug Casey at

Debt Ceiling Farce

International Man: The US federal government has raised the so-called debt ceiling 104 times since 1944.

Shouldn’t they call it a debt target instead of a debt ceiling?

Is this whole thing a farce?

Doug Casey: The situation is completely and irredeemably out of control. It’s a farce. Quite laughable, except for the fact it’s so deadly serious.

Can they reduce the debt ceiling or the amount of debt? Or even slow down its growth at this point? No.

The situation is beyond redemption because most US government expenditures go to pay entitlements—Social Security, Medicare, Medicaid, food stamps, and numerous other types of welfare.

Those things will be very hard to cut at this point; breaking the doggy dishes of millions of corrupted Americans would cause unrest. Plus, the so-called “defense” budget, which mostly supports the military/industrial complex while fomenting conflict. It’s actually much larger than disclosed because it should include $50 billion of foreign aid, the cost of running outrageously large embassies over the world, the CIA, and black budgets of all types.

Meanwhile, all US government agencies are bent on expanding themselves. The bureaucrats who run them realize that if they don’t grow the budget every year, they reduce their chances of going from one GS level to the next. Their success is based upon managing more people and spending more money. Naturally, all these agencies grow like cancers.

As a result, the “debt ceiling” is a fiction. It will stay out of control unless there is a total reorganization of the government—which itself would be risky. And that’s not going to happen until we have a financial catastrophe that leaves absolutely no alternative.

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2 responses to “Doug Casey on the Debt Ceiling Farce and Why the US Should Declare Bankruptcy

  1. Pingback: Doug Casey on the Debt Ceiling Farce and Why the US Should Declare Bankruptcy | STRAIGHT LINE LOGIC – Additional survival tricks

  2. Caligula Laughs At FUSA

    The world class economist (snicker) Paul Krugman is onboard with the trillion dollar coin. (honk!)
    I wish to see a horse in the senate and hopefully it comes to pass.
    Saw the Fetterman tweet screen capture of him walking in to vote wearing shorts, hoodie, tennis shoes.


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