Some dreams examined

Chumpfish quotes from a CFR report:

The report, entitled "Getting Serious About the
Twin Deficits" calls for urgent measures to
tackle serious challenges faced by the US
economy, including reducing the government
deficit by, among other steps, increasing taxes;
reducing oil imports through the imposition of
energy taxes or strict fuel efficiency standards;
and managing a coordinated depreciation of the
dollar vis-a-vis East Asian currencies.

Chumpfish is right in his comment. It's fatally
flawed for a number of reasons, mostly because of
the endless number of new and old ideas alternately
putting tourniquets on the appendages of the real
economy and removing blood (taxes...thereby
feeding the political economy) until the body
gets gangrene and/or anemia and the patient dies.
Only one of these economies is alive....somewhat.
Guess which one?

Hint: Government produces nothing.

And its debt is unpayable and uncollectable.

As for private debt...

The effect of many going bankrupt at some point
just means fewer taxes for the political economy.
Besides, private debt means it's in the real
economy where individuals are producing. Why
should anyone get excited if a number of their
fellows want to spend themselves into homelessness
or bankruptcy? It's their life.

Higher taxes for anyone will just feed the failing
state and kill the body with the hemorraging,
resulting in more private debt.

If that sounds like collective analysis, it is.

Best you not get caught near the bloodsuckers.