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| The reincarnated Volker wouldn’t touch the situation we are in now with the literal 10 ft pole. There has to be some other economic trick to pull this overstuffed rabbit out of the hat. Don’t think the fiscal situation of a heavily indebted government would be helped by 10 to 20 percent interest. The only way to dig out of debt that I know of is to cut spending and increase revenue. It should be relatively simple for Congress to hold spending static. To increase revenue, the all branches of government have to go to work making money for the treasury. Maybe keep a stake in raw material production along with the lease sales. Keep a stake in airwave sales. There has to be some other revenue streams into the Treasury beyond taxes. | |
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Reversing the debt based death spiral
