Some Creative Ways to Manage U.S. Debt Crisis
Posted: Saturday, July 30, 2011
by Gerry Charbonneau
http://nibblednews.typepad.com
" Expecting the world to treat you fairly because you are good is like expecting the bull not to charge because you are a vegetarian." --- Dennis Wholey
Many times in life doing the right thing, even for the right reason, has its hidden and not so hidden costs. When you are a major world power like the United States and abandon a policy of political isolationism in favor of self imposed global intervention the financial costs can and eventually do become astronomical.
The following solutions may be considered to be totally radical and off the wall but when you are in a financial crunch and fiscal responsibility has been carelessly adhered to then these types of drastic solutions may help alleviate financial dilemmas:
- Issue war bonds to finance your way out of debt.
- Legalize marijuana and create a taxable source of revenue.
- Create state lottery funds to help ease financial burden.
- Let oil companies foot their share of the debt from earnings.
- Lessen military presence in global skirmishes.
War Bond Effort
War bonds helped support the effort in World War II. The general public shouldered their financial responsibility for the war effort at a time when money was scarce but national pride at its peak. This approach demands that an end to the fighting not drag on for years. A lengthy, drawn out war would not sit well with public sentiment.
Legal Marijuana Outlets
Rather than destroy the currently seized crops of illegally grown marijuana why not legalize its use, create govenment approved retail outlets and create a new source of income. The total proceeds would go towards national debt reduction.
Sell Lottery Tickets Nationwide
Who really needs to win $133 million in some of the major state run lotteries currently available? Why not encourage more lottery ticket spending, limit the amount that a person can win and then place the overages in a fund meant to lessen the current debt.
Oil Companies Assume Their Share
Place more of a financial burden on the wealthy oil companies who are reaping billions from any and all global skirmishes. Afterall, they do provide the fuel for the tanks, trucks , planes and assorted other vehicles utilized in combat.
Lessen Military Presence
This may be the most drastic and yet the most pragmatic way to cut the costs now associated with the current U.S. financial crisis. Let the military take a less aggressive role in global skirmishes and let the future participants in such conflicts do more of their share.
Final thoughts
These proposed solutions may seem off-the-wall but they also represent more realistic alternatives to having the country not pay its outstanding debt and suffer the crippling long and short term effects of bankruptcy and insolvency.
This Article has been viewed 434 times. (Not updated in real-time.)
Top-level comments on this article: (1 total)The fact is there are a lot of things we can do to slow and eventually stop America's deficit spending, and you've touched on some good ones. The problem is, Washington is too dysfunctional and too corrupt to enact these measures. The debt ceiling crisis is a symptom of the problem, not the problem.Thank you for your comments and insights Bruce.
For Washington to enact these or any other type of band aid solutions it would have to become a lot more honest, open and functional.
Corrupt party politics, personality feuds and a myriad assortment of other ills only impede any type of affirmative action plans that could save the country from economic embarassment.
The current power players and wannabes in Washington might as well issue Confederate bonds. This way you can always identify the carpetbaggers fron the legitimate politicians.
We want your comments! If you can read this, you don't have javascript enabled, so you can't use this comment system. Please enable javascript.