Press coverage of the national debt is long on defining the problem but short on solutions.
This is not my first time at the rodeo; I have been instrumental in the incorporation of a number of majorprograms into the operations of the federal government:
Centralized Regulatory Review, OIRA, Insoluble Insolvency and the Information Quality Act
- The challenge is that virtually every economist disagrees with the term Insoluble Insolvency as defined herein. Why?
One reason for this disagreement is that the economic profession all agree that with sufficient time and resources economic
issues can be resolved. To the contrary, Insoluble Insolvency concludes that existing constraints are so limiting and formidable that the underlying problems cannot be solved; please see this link for a detailed response: https://www.thecre.com/forum8/?p=15495
See this link https://www.thecre.com/forum8/?p=15279 for Tozzi’s historical home runs.
- The upside of taking an action.
Although insoluble insolvency is going to come into being not withstanding actions at the Federal level, if corrective action begins immediately the resultant damage can be reduced; see the extensive literature produced by CRE(Center for Regulatory Effectiveness) at:
https://www.thecre.com/pdf/Insoluble_Insolvency_Final.pdf
- The term Insoluble Insolvency has been the subject of CRE publications for a number of years:
An Open Letter to the American Public
Google Paradigm: Google Search
ChatGPT Synthesis of Dalio, Kotlikoff and Tozzi on the National Debt
Three Monuments To The Management Of The Regulatory State
- CRE is not requesting an endorsement of Insoluble Insolvency because the opposition is so great that it, when coupled with the fact that the American public is likely to garner only a token interest in the concept of insoluble insolvency, suggests that
no action can be taken in the immediate future unless we can identify an opinion leader who will endorse the concept of Insoluble
Insolvency.
Mr. Musk has come very close to doing so: see
Musk https://finance.yahoo.com/news/america-verge-bankruptcy-elon-musk-003137255.html
Respectfully,
Center for Regulatory Effectiveness
