Quote Originally Posted by killerweed420
There is only one politician in America who has tried to do anything about the national debt and thats Ron Paul. Bush has never tried to get the national debt. His buddies are making too much money off of it. If we truely want to do something with the national debt we will need libertarian leadership. The other parties just don't care. What we need is a president that would just say "No more foreign aid except for humanitarian causes and then just say we're going to default on all outstanding loans". We would be on firm financial ground the first year.
A couple things to note:

Ron Paul (my write in vote this year) calls for a heavy transition into sound government spending, as well as a constitutional tax policy.

The majority of tax money is spent on income transfers, ie, unemployment, welfare, social security etc... The next biggest chunk is national defense. Dr. Paul calls for the removal of US military bases around the world. This is estimated to save over $300 billion annually. He also proposes the removal of several governmental programs, such as the department of education.

Yet Dr. Paul is a man of principle. He would not just cut social security, cut unemployment benefits, and put people into the shiter. Instead, it would require a lengthy transition (ten years IMHO) to reestablish the economy and market psychology.

On the downside. American withdraw from foreign lands will require those sovereign nations to put up more money for their own national defense. By doing so, the production possibilities frontier would shift, therefore cutting consumption for citizens. The effects would probably lead to a short world wide recession, of which America would be partially shielded due to low taxes, and stable monetary policy. One thing is for sure, you would see a whole new fucking world:jointsmile: