Like completely take down the economy, scrap it and liquidate all debt. This way we can start from scratch. It may take a couple of years, but what would be the outcome? Would other countries recognize our elimination of such debt.
The world doesn’t trust us now, why would it matter?
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Can you imagine politicians having this kind of discipline in modern times?
http://www.business.auburn.edu/~whittdo/THE%20ELIMINATION%20OF%20THE%20NATIONAL%20DEBT%20IN%201835.htm
On January 1, 1835, the United States paid off entirely its longstanding public debt. For that year and the next the nation enjoyed debt-freedom, the only two years in its entire history when i.... More »
Tax Problems with troubleshooters? Have you had similar problems?
We went to the largest tax resolution center in America for help.
It seems they are getting kickbacks etc. from the IRS because
all they seem to offer is Offers in Compromise. We would
like to have total debt elimination because we have proof
positive that we should deserve some relief and even.... More »
I’m thinking it would result in a worldwide financial panic the like of which has never before been seen. Bad, bad idea.