woodchip wrote:Slick, you continually amaze me with the extent you will protect the leaders of your party. If you think the personal debt is somehow going to collapse the country faster than the govts. debt then you are delusional. What happens when debt payment/ss payments/medicare payments exceed what the govt. takes in in taxes?
left as it currently is, we won't hit that point anytime soon, if at all. Remember, we always pay the debt back, social security has been beaten to death but really is not near insolvent and medicare payments will go up for a bit with baby boomers, but will level off. Not so with individual credit. They go for full-on default, which could crash the economy FAR faster than any level of government debt.
Why you have a Detroit with a emergency mgr appointed.
well, once you get a drastically shrinking tax base, your scenario works. Refer to automation thread for THAT time frame.
"The Party told you to reject all evidence of your eyes and ears. It was their final, most essential command."
George Orwell---"1984"
