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It would require a very lengthy answer indeed, to give a complete program for solving the difficult and complex US and global debt crisis, but allow me to give a brief summary. There are many ways in which governments are inefficient and waste money. Governments need to become more efficient and to do so seriously, with radical reforms. After that, national debts of nations throughout the world can gradually be repaid, and governments can live within their means rather than borrowing money in the future.
I realize that I have not given you any specific information about how government can be made more efficient, but it is too large a topic, and potentially too controversial as well. So I merely advocate efficiency.
Wiki User
∙ 11y ago
Wiki User
∙ 10y agoIt will be very difficult because the debt is so large and there are many entitlement demands on the treasury which the people do not want to give up. The easy way is to deflate the currency- in other words print more money without any backing but faith in the government. Of course somebody always pays and in this case those who have money saved would be the losers.
The best way, IMHO, is to gradually reduce the entitlements and gradually increase taxes on those who can pay. Tightening up the borders and cutting defense expenditures would also help. There is a lot of waste and fraud in government spending and collecting taxes. If a large percentage of officials and citizens wanted to cut waste and fraud, it could be done, but too many either benefit or do not care about ending these abuses.
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How can you fix your debt problems?
There are sites online where you can fix your debt problems. One of the sites where you can get help on fixing your debt problems would be on fix-debt.
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There are a number of ways to fix your debt problems. You could consolidate all of your payments into just one payment. You could get a second job, or even sell things to pay off your debt.
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Helped Americas economy
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It won't fix it, but paying off any remaining debt from the vehicle should help your credit rating. Unfortunately, a repossession will linger on your credit report for about 7 years.
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Most Commercial Collectors, or business debt collectors operate in a fix rate or rate per amount collected. Fix rate depends on each collection agency, debt collection rates may vary also in the amount to be collected, number of accounts and the age of the accounts. Most commercial collectors do not charge any fee until they collect, or some others they do. Best practices are; shop around, look for collection agency prices, request quotes, etc.
