Dec 19, 2010

Solve the Federal Debt Crisis

At this site, you can choose the options you think should be done to reduce the Federal debt. This was sent to me my sister -- Anne Hullinger - Thanks, Anne


We need to stop the growth of our Federal Deficit. We either have to reduce costs or increase taxation - probably some of both.


I got it to 58% of Gross Domestic Product in 2018 with it being sustainable through 2030.


My sister got it to 53% of Gross Domestic Product in 2018 with it being sustainable through 2030. She is a more tight fisted person then I am.


To put this into understandable terms, think about your income and mortgage. You can have a mortgage that is 2.5 or even 3 times your income. Bit it is better if it is much lower. 


In bad times a nation or a family can spend more then it makes. But in good times that nation or family should be paying down their debt.  So it makes sense to keep taxes lower now, but long term we should lower that debt level.


See what you think needs to be done.