The national debt has spiraled completely out of control. We are now approaching 21 trillion and no one seems to care. Instead we have to hear about every social issue on the planet in victim searches and even a mention of those issues is enough to rile up the pro vs against side. Our spending deficit is now approaching 1 trillion dollars and nobody seems to notice or care.
Congress is even worse. They keep increasing spending as if someone once gave them a challenge to bankrupt the country and to steal from the tax payer as much as possible. It's as if both parties stood up and yelled. "Challenge accepted!" Seriously here... You have to try very hard to be this stupid with your spending. Its like we've elected a bunch of Erlich Bachman's to run the congress and run train on the treasury department.
The government, every couple months to every couple years, is talking about raising the debt ceiling before the government shuts down. They use it as a means to get laws passed that the other side doesn't like. And people rightfully get angry that we are shutting down, but for the wrong reasons. They don't realize that its because we have no money and the credit cards are maxed out. They just think its because the other side won't authorize spending and are holding treasury's full of cash. The treasury is empty with a single IOU in it that keeps getting bigger. I can't explain it, but it is literally like they are trying to bankrupt us on purpose. Unless we pull our heads out of our butts and stop fighting over social issues and all together say. Its the debt or nothing you get to work on. The market also has a series of bubbles. The housing bubble is back thanks to the bailouts and not letting the market correct they way it should have, the student debt bubble and the dollar bubble.
The only real way that this can probably be saved is with crypto-currency. Competing currencies that are not controlled by government that swoop in to pay down the debts. The catch 22 there is that the Treasury itself would need a wallet and the government would have to start mining it. I think that would be awesome way to reduce taxes, but that would require the government to accept something it wasn't in control of.
The only concern there is, you can bet government right now is looking into how crypto-currency markets work. Like they did with the internet. Anything that is liberating to the people is quickly studied on how it can be exploited. The only way to keep that from happening is multiple currencies competing with one another. Once they know how to exploit it and monitor it. They will be creating their own and of course will seek monopolize it by outlawing competitors.
A system that monitors and tracks all transactions and is cashless? You bet the Treasury department and the IRS is looking into what the crypto-markets are and how to exploit them in every sense of the word. I can guarantee you there will be a day where they issue a wallet like a social security number. It will be great at first. Whatever they're offering will be awesome. Then they start changing it. Its going to be the replacement for the dollar for when the country goes belly up. When its voluntary like it is now its fine. Its an asset. But once the government starts making their own exchanges and currency based around crypto. Its not going to be good and I love the crypto-market as it stands right now.
I know I got off topic a bit, but I really just can't figure out why congress continues to ignore the debt.