With all the talk about what a disaster it would be if the US defaults, lets take a look at the benefits. I for one pray that the US defaults because it would force a government shutdown. Here's why:
No More IRS--The most nefarious and feared government agency would no longer be able to harass, extort, and steal your money. No more audits. The income tax is oppressive to the middle class, preventing them from accumulating wealth, while at the same time multinational corporations like GE and Google don't even pay taxes. Would ordinary citizen really miss the IRS and its threats?
No More Foreign Wars--Without money the troops would have to come home. This would save the US trillions of dollars over the next few years. Our troops would no longer have to fight and die for pointless wars in far away lands. The only losers would be the military industrial complex, which would lose hundreds of billions in military contracts---poor them.
No More Government Waste and Fraud---We hear the outrageous stories--how the government spent hundreds of thousands of dollars of taxpayer money researching shrimp on treadmills, jello wrestling in Antarctica, and other egregious frauds. If the US government was forced to shutdown, funding for such fraud and waste would end, saving taxpayers billions. Furthermore, the government would be unable to squander another $100-200 billion identified by the Government Accountability Office as wasteful and redundant (e.g. 15 federal agencies regulate food safety when only 1 is necessary). See here for full article
No More Illegal Government Gun Smuggling Operations--The ATF, through its Fast and Furious Operation has been caught selling guns to Mexican drug cartels and other members of organized crime units. Lets be very clear here--your government has sold weapons to criminals who killed US border patrol agent Brian Terry and thousands others along the US/Mexico border. Do we really want to give the ATF the funds necessary to continue these illegal operations? A government shutdown would stop it. This is just one example of what illegal acts your government is conducting. Does anyone remember Iran Contra? It never ends. I am not even going to mention ATF operations such as WACO and Ruby Ridge (e.g. you government executing American citizens with impunity).
No More Cruel Government Funded Health Experiments--From 1946-1948 the US government funded a health experiment which purposely infected 700 Guatemalans with the venereal disease syphilis. During the 1950s and into the 1960s the CIA through an operation codenamed MK Ultra went around forcibly drugging Americans with LSD and other narcotics in a failed effort to produce a mind control substance. At least one person died as a result of this operation. These are just a few examples of what your government is up to.
No More Government Luxuries For Obama--With the American economy in a perpetual depression, sky-high unemployment, and rising inflation it is unbelievable that Barry Obama gets to jet around like an imperial dictator. The President gets to fly around in Air Force One (which costs billions per year in maintenance and repairs) , dine in luxury (with the very best china), and travel around the world with an entourage ranging from 200-400 bodyguards--all at taxpayer expense. Even his dopey wife Michele gets to bleed the taxpayer to fund her vacations to Spain and the African continent when she has not even been elected to an official office. And to top it all off-Obama gets paid a salary to live like a King. Such actions when millions of Americans go hungry is evil plain and simple. Perhaps if the government shutdown, Barry
Sotero Obama would be forced to cut back on his extravagant lifestyle and lower himself to live like the average American for a while.
I don't know about you, but I welcome a US default and a complete government shutdown. And guess what--life would still go on. True the dollar would fall, but most readers of this blog already own gold so who cares. The main point being that there would be no Armageddon scenario, just a little more economic and political freedom for the average American. Does this sound all that bad?
Black Swan Insights