This can't be good

Once again the key to this is how much the govt is willing to cut spending. Higher taxes will not do much good since it will mean reduced spending. That would put us right back into recession. Of course, that is probably unavoidable since the reduced spending will also mean fewer govt jobs. However, it will mean we can keep up with the debt payments

On the positive side the US economy is still pretty substantial. We still produce a good portion of the world's food which is a stabilizing force. If our society collapses a good portion of the world will likely starve. So, I don't see that in the the cards, at least not in the foreseeable future.

The US is "too big to fail".

I like your guys' optimism but I'm a realist. Believe me I do not want to see the U.S. economy collapse but we (the Feds) are having difficulty repaying just the interest on our enormous debts and we are on the verge of default on these debts. Quantitative easing part 2 (QE-2), a.k.a. The Treasury printing fiat U.S. dollars ends in June then what's next, QE-3? Too big to fail, I don't know but America's biggest mortgage giants Fannie & Freddie failed. America's largest insurance company A.I.G. failed. America's largest automotive car manufacturer GM failed. Circuit City failed. State and County government entities are furloughing or laying off employees. I hope we can recover and come back even stronger than ever, USA!

People are in denial. No society can survive 5 BILLION dollars a day in borrowing. No society can survive open borders and gold plated social welfare benefits to every Third World illiterate who can sneak over the border. Or a "defense" budget equal to the other 200+ countries of the world combined. Or an unsustainable retirement and health care system.
We will not recognize this country in 10 years, 15 top. There will either be a quasi-fascistic takeover by patriots who will solve our fiscal problems forcefully and brutally expel all illegals and Anchor Babies or we will slowly deteriorate like the other once great fallen empires of recorded history.

Its real simple to solve this problem. Get out of the three wars we are in, cut on going defense spending by 50%, raise taxes on those making over 250k, raise taxes on large corporations that aren't paying their fair share.

When I see nonsense like this I just cringe. There really are folks around that don't understand the obvious fact that corporations do not pay taxes ... EVER. It's the consumer of the products that pays the taxes. If you raise taxes the price of products increase which leads to fewer product being sold and a decrease in GDP.

In addition, we are not going to cut defense spending by 50%. Only a fool would make such a recommendation.

malibber is absolutely correct; he has proposed a simple solution. He need only forward it to the appropriate public officials and it shall be implemented.

DonDiego thanks malibber; he will sleep more soundly tonight.

No I don't buy that. If that is the case overall prices would be going down as collection of corporate taxes have gone way down over the last 10-15 years.

The polls I have seen indicate that the majority of Americans agree with what I suggested, but I agree it is not feasible in the sense that Koch bros and other corporate crooks have bought the legislative body, and the sellouts in Washington are doing their bidding not ours.


Majority of Americans want to tax the rich to fix the deficit problem

At the Berkshire Hathaway shareholder meeting in Omaha on Saturday Warren Buffett mentioned that he's confident the U.S. dollar will decline and "big inflation" is coming. Buffett also made a purchase of 130 million ounces of silver, the precious metal.