Howdy, earlier I posted that our country could be turned around should the government gift 1 million to each family household in the country. I still believe this is true but, I think refining that would decrease the amount going toward the deficit.
What I mean by that statement is this, have each household wanting to take advantage of such a program calculate exactly their debt, IE: Mortgage, student loans, medical expense in arrears, loans, credit card debt etc. More than likely most Americans are not in debt for more than 500k there are exceptions but most wouldn't be.
Taking the individuals families debt down to zero will have a strong economical effect on the nation as a whole. Firstly, the American family will then be able to re-organize their habits into a more financially stable one by avoiding future incurring of these debts thereby first stabilizing our economy at the root. No debt in this one time grace means more cash and purchasing power available to the family to revitalize the economy and stimulate it by allowing more money to be spent.
The US deficit would of course take a shot in the wallet and our deficit would need to add this amount to our already 3 Trillion dollars worth of load. The effect however would slowly begin to reverse as more people felt less stress about their situations and felt better about spending money. With no debt people are apt to spend more. The country in return take more in, in taxes and revenue from other sources and gradually the deficit begins to shrink as well.
The answer is not to print more money which weakens the dollar on international markets but to use what we already have. Stricter monitoring of international loans to countries needs to be employed so that those countries borrowing from our government must first square up their outstanding debts with us. Import control is needed. A firm grip on how much foreign importing is allowed must be controlled, companies in the USA must be allowed to supply items to Americans for competitive prices and those countries using slave labor or sweat shop type labor should be banned from trading in the US.