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October 16
- Taxes have to go up.
- Inflation has to climb, lowering the purchasing power of the borrowed dollars and the real cost of interest payments.
- Interest rates have to climb to attract enough money back to the United States to finance economic growth.
- The dollar has to fall, so we can pay our debts more cheaply.
- We have to sell more assets to overseas investors.
- U.S. Workers have to take more wage cuts.
- U.S. consumers have to cut back on spending.
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