How Broke Are We?

March 11, 2010 in Finance with 1 Comment

Already in DebtNews Flash:   It will soon be $46,000+ when our national debt reaches the new limit approved by Congress – $14.3 TRILLION.

What are we going to do about this?

NOTE:   I don’t know who owns this photograph, but I would gladly provide credit.

One Response to “How Broke Are We?”

  1. Nathan Rice March 11, 2010 at 7:50 am #

    1. Drastically cut spending. Cut entitlements entirely and let states handle that; cut defense spending by 50%; cut operational expenses by 50% (by firing a LOT of federal employees).
    2. Stop printing money. Inflation hurts the poor most of all.
    3. Enact a tax policy that will allow the rich and ultra-rich to invest in new production, creating more taxpayers.
    4. Maintain a $1 Trillion budget surplus for 15 years or more.

    We’d be debt free by the time my kids are off to college.

    Obviously, you could then cut taxes to get rid of most of the surplus, and put some aside for recession spending, but make balanced budgets mandatory via constitutional amendment.

    Simple ;-)

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