What Happens If the US Defaults?

The United States is supposed to be the world’s superpower and the dollar the world’s currency but America is unable to control its spending. Despite taking in record amounts of money the federal government continues to spend even more.

We have 18 TRILLION dollars of debt but we have over 100 TRILLION in unfunded liabilities. These are things the government has promised but cannot pay for. When the day comes for those items to be paid the US will not honor the obligations because it will be unable to.

The war cry from liberals is to tax the rich more. The wealthy folks in our country pay most of the taxes. The bottom 47% of earners pay NO federal tax and often get back more than was withheld in an income redistribution scheme overseen by the IRS.

Taxing the wealthy would not solve the problem. If we confiscated 100% of the money the wealthy have the government would run out of that money in a few months. Then there would be no more to take and we would still have huge bills to pay.

China, among other nations, holds a lot of our debt. If China ever called for us to pay them everything back we would go under. The Chinese could collapse our economy, and thus our nation, and it would never have to take a hostile act to do it.

We are in serious trouble and it is getting worse. Soon, if things do not change, we will be like Greece.

The government there is looking at every possibility to solve its financial woes and that includes confiscating money from citizens and limiting their access to their own money. The US has schemes and one of them is to confiscate all the money in the various retirement plans throughout the nation. Doing so would give the government TRILLIONS of dollars to spend. It would keep us from defaulting for a while but it would leave everyone penniless. We would all be wards of the state.

Nanny state types will insist it is for the greater good and that the money confiscated can pay bills and be used to evenly pay every person a retirement. It would allow them to redistribute to the poor who have little or no retirement money saved while forcing those who saved to accept small amounts and live meager lives in retirement.

This of course assumes that the public will not revolt and stop this from happening by any means possible. That is a distinct possibility since people do not like their money to be screwed with. The poor who stand to gain will likely support it as will politicians who want to enslave even more people to the government plantation. Those who stand to lose will likely not take any action lying down.

The unrest will make for an environment where any enemy can take advantage and start trouble.

This all because our government can’t live within our means. This because our government insists on spending money on things that are not authorized by the Constitution. This because the tax system is screwed up and complicated and because the money that is confiscated from the people of the states is held over the heads of the states to gain compliance with ever increasing federal rule.

We need to abolish the IRS, change to a simpler tax system where EVERY wage earner pays (and we all pay the same percentage) and we need to harness the out of control government to force it to only spend money on things it is allowed to spend on.

Troubling times are coming and we will all pay a heavy price for the things our arrogant government is doing.

Cave canem!
Never surrender, never submit.
Big Dog

Gunline



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One Response to “What Happens If the US Defaults?”

  1. Barbara says:

    Yes. Right now a strong American is what we need, I will vote for Trump, a man with brains and balls.