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| U.S. federal debt held by the public as a percentage of GDP, from 1940 to 2012, and Projected to 2025 |
The growth of Federal Debt is worrisome and needs to be corrected. A major part of the problem is that politicians promise tax cuts and increases in spending.
But the problem is not that difficult to solve. We either must:
1. Reduce expense
and/or
2. Increase income, ie taxes.
The article below illustrates a rather simple way to balance the budget.
http://reason.com/archives/2015/09/07/how-to-balance-the-budget-in-one-easy-st
The CIA World Factbook shows public debt by country. Their figures indicate that the US Debt is less than many affluent countries, including Japan, the United Kingdom, Ireland, Spain, France, Singapore, and Canada.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html
More information and graphs on:
https://en.wikipedia.org/wiki/National_debt_of_the_United_States
In short, this is a manageable problem if the voters would be adult enough to elect adult politicians instead of voting for people who promise to cut taxes and increase benefits. Not much sign of that unfortunately.
Or, we can shout "The Sky is Falling, the Sky is Falling!!!"
When in danger, when in doubt, run in circles, scream and shout.
http://reason.com/archives/2015/09/07/how-to-balance-the-budget-in-one-easy-st
The CIA World Factbook shows public debt by country. Their figures indicate that the US Debt is less than many affluent countries, including Japan, the United Kingdom, Ireland, Spain, France, Singapore, and Canada.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html
More information and graphs on:
https://en.wikipedia.org/wiki/National_debt_of_the_United_States
In short, this is a manageable problem if the voters would be adult enough to elect adult politicians instead of voting for people who promise to cut taxes and increase benefits. Not much sign of that unfortunately.
Or, we can shout "The Sky is Falling, the Sky is Falling!!!"
When in danger, when in doubt, run in circles, scream and shout.
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