The economic problems are many and mounting, but the solution is surprisingly simple.
I am getting very suspicious of the "realism" of US debt. The willingness to keep raising the debt ceiling with no care in the world is odd, even for morons in DC. The Fed Reserve buys a lot of US debt which then uses these IOU's to fuel a wide assortment of monetary shenanigans. I am even suspicious of China's owning our debt - to the point that I wonder if backhanded deals through the Fed are creating a mirage that we owe China so much. In fact, I think this debt notion is just a tool to grab private property from US citizens. Don't get me wrong, future generations will pay to service this debt but I doubt the money is going to China or any other nation holding our debt. If shiploads of gold were going overseas, I'd believe in the debt, but that does not happen. What really is the meaning of national debt when your currency is floating and there are no obstacles to the printing press?
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