"Great is Bankruptcy: the great bottomless gulf into which all Falsehoods, public and private, do sink, disappearing; whither, from the first origin of them, they were all doomed."
– Thomas Carlyle
Instapundit poses a challenge to his readers: how do we save the US?
The US is broke. There is only one way to fix broke: bankruptcy.
Add up the government’s assets (dollars printed are not assets). Add up the government’s liabilities – all of them.
You’ll find that the latter number is larger than the former number. Much larger, I suspect.
Come up with a reasonably fair mechanism of paying liability-holders their share of the insufficient assets.
Start over. "Great is bankruptcy"
The pain will immense, but it will be short. The pain cannot be avoided, it can only be prolonged.