My first post and I am about to earn alot of hate haha.
Here goes: Ron Paul is my presidential candidate of choice.
...there I said it.
As far as the bankruptcy goes, can anyone honestly see this heading anywhere else? This country has defaulted 3 times in history:
-the civil war
-1972 (I think it was 2...maybe 3, I'd have to look it up.)
We are in over our heads and if we don't do something we will be up a creek. Stopping spending on crap will help, yes, but i can't see it solving the problem entirely.
And welcome to the board.
Dear America; *Land That I LOVE!!!*
1) File Bankruptcy
2) Look at Me
3) Or Our Creditors
You guys can do this! (once the poor and downtrodden follow natural selection and die, of course)
Veni. Vidi. Vici.
-Gaius Julius Caesar
The Only Thing to Fear is Fear Itself.
-Franklin Delano Roosevelt
"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"
Cicero Marcus Tullius
Instead, we're at the point where even the interest on debts is getting beyond the productive capacity to pay off... Which is more like someone who has taken on so much debt that even paying only the interest would still run out of money before paying off interest.
At this point it's not much longer before the creditors will figure out that you are juggling debts between so many cards that the interest exceeds your income.
Bankruptcy, even with the negatives is really the only sane option.