Yes1. Will the U.S. Congress attempt to kick the can down the road again rather than solve the twin problems of a $1,500 Billion dollar per year deficit, and minor ( compared to the long term deficit problem ) automatic 10 year spending cuts which are set to automatically kick in at the end of the year?
Yes, they will attempt to delay what ever minor "fix" they will "announce" until after the election. Events may force them to "announce" a small part of the post election "fix" before the election. In any event they will not "announce" a solution, but only another kick the can down the road fix.2. If they will attempt to kick the can down the road, will they do it before the election, or after the election, or both?
Regrettably, No, for the reasons noted in 10 below.3. Does anyone believe the U.S. Congress, regardless of which major party is in control, will ever do anything other than attempt to kick the can down the road, until after another "Great Depression" or another existential crisis war occurs?
Yes.4. Is the $1,500 Billion dollar per year deficits one of those things that "eventually can not continue"?
Yes.5. Is the current United States economy one of those things that "eventually can not continue", if the automatic cuts go into place at the end of the year?
Depends on who they are implemented on, and when they go into effect, and many other factors. Currently the vast majority of federal government taxes that go into the general fund ( which pays all the debt and most federal government spending ) come from federal personal income taxes, and a much smaller amount from corporate income taxes, and even smaller amount from all other taxes. Medicare spending and Social Security spending come from other taxes, and to a minor, but growing degree, from the general fund as well.6. Is the current United States economy one of those things that "eventually can not continue", if 1,000s of Billions of dollars in new taxes over the next 10 years are implemented?
Currently, the lower income half of the public pay no federal personal income taxes. If the 1,000 of Billions of dollars in new taxes was raised on the lowest 70% ( by income ) of the population, and they were raised very slowly over 10 years, and federal government size and spending was slowly reduced over that same period by even more 1,000s of Billions of dollars, then the U.S. economy might have a slight chance of surviving.
Raising of taxes by 1,000s of Billions only on those earning over $250,000 a year in income, even if possible, would only accelerate the flight of businesses and capital out of the United States. Currently those rates of exit are accelerating a decades old trend.
The slight chance would also depend on changing the tax structure to encourage production of goods within the United States and implementing the only massive tax on imports that complies with the World Trade Organization, that is a federal sales tax and/or Value Added Tax on all goods sold in the United States, elimination of double taxation of corporate dividends, and making the United States the cheapest place to start and run a business from a tax and regulation stand point.
Health care will also have to be dealt with in way that does not require the costs of goods sold by United States corporations overseas to include both the costs of health care for United States citizens and also the cost of health care for foreign citizens. Obama care makes this problem worse, not better. But even the existing status before Obama care is implemented must be fixed to avoid this strong incentive for manufacturing to move out of the United States.
But for political reasons ( the Baby Boomers and Generation X voters will never accept the sacrifices required ) the above will never happen before a great depression or existential crisis war. So the answer is:
Yes, the United States economy is one of those things that "eventually can not continue" if taxes are raised by 1,000s of Billions of dollars over the next 10 years.
Coming up with the answers to those questions far exceeds both my knowledge and my skills.7. When will the "eventually" arrive in each of these cases:
7a. ( 3 is true )
7b. ( 4 is true )
7c. ( 5 is true )
7d. ( 6 is true )
Answering this question also far exceeds both my knowledge and my skills.8. Will the next attempt to kick the can down the road being delayed until after the election change the answers to the above questions?
The answer may be different depending on when a crisis war starts relative to the start of a Great Depression.9. If, and when, the "eventual" arrives will there be hyperinflation, or will assets decrease in value, or both?
Pretending no crisis war at all - then:
I believe the answer will be both.
Property values relative to the value of gold will collapse. The United States Dollar will be repeatedly devalued by either the government, the market or both. The model here being Italy and France during the Great Depression of the 1930s, not the United States, which in the 1930s was a creditor nation with the huge federal government controlled gold reserves which backed up the U.S. dollar. Today the United States has only only a mix of paper and electronic money, Trillions of dollars of which can be created within seconds on a keyboard, and worse yet, the person in charge of the key board has proved he is willing to do so when he believes an emergency exists. Today the United States is also the largest debtor nation in the world.
Commodity values, relative to gold, will fluctuate greatly based on geographic location because a constant global price will no longer exist after the failure of the futures and option markets, and a total distrust of that financial model. Commodities will also fluctuate over time as a result of social unrest, security issues, and lawlessness, at various times, and in various locations affecting mining and production. Local weather and other factors related to growing crops locally will also affect the value of commodities in varying ways, at varying times.
I have come to accept the answer to that question is no. My reluctant answer to that question is based on two things: the size of corporate and government debt being one, and the political limitations that Generational Dynamics places on our elected leaders and our elected representatives.10. Does anyone believe the U.S. Congress can do anything to avoid another "Great Depression" or avoid another existential crisis war?
An honorable mention also goes to the leveraging, and multiplying, of risk, created by "Credit Debt Swaps" and the financial institutions that supposedly hold in safe keeping Trillions of dollars in deposits of other peoples and said financial institutions which are speculating in such synthetic "investments" using those deposits. And also an honorable mention to the government of the United States for putting the full faith and credit of the People of the United States up as a guarantor of those financial institutions doing the speculating with other peoples money.