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IPFS News Link • Obama Administration

Privatize the US to Avoid Default?


President Obama's latest budget proposal includes a five-year freeze on nondefense discretionary spending and tax increases on higher earners. But even if all goes according to plan, the gross debt will still rise above 105 percent of gross domestic product – and stay there. Yet there is another fiscal option that neither party seems to be considering. The U.S. needs to do exactly what it would if it were a severely indebted company: sell off assets to balance its books. – Newsweek

Dominant Social Theme: Give free-markets a chance.


1 Comments in Response to

Comment by tittiger
Entered on:

Hell no! We need to repudiate the debt that was forged under fraud. Then maybe see off assets and head into the free market. But pay off the banksters? Hell No!