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Podcast: The American Enterprise Manifesto: My America's Vision of Peace and Nonviolence for Humanism
Episode: Is America Really Bankrupt?
Description: Supposedly America cannot file for bankruptcy. Â Nothing in the constitution would allow the biggest enterprise in the world to quasi-reorganize its debt and pay down long term debt with an infusion of capital. And cut fixed overhead to go forward with positive cash flow. Â If so, the first target for a hair cut would be government payroll of $1.9 trillion per year including an accrual for pensions and health care benefits. That's 40% overhead heaped on small businesses not the taxpayers. Â The taxpayers barely pay enough to pay the interest on debt of $30 trillion ($90 trillion including State and Local debt, a $1 mil...