How can we reduce the national debt by $1 trillion?

[Anonymous]

Let alone $36 trillion? Any ideas?

#ThingsILoseSleepOver

[obturningrussian]

Anonymous wrote:Let alone $36 trillion? Any ideas?

#ThingsILoseSleepOver

im not and never will be good at economics, but im going to say maybe "taxing the rich" or something, which will never happen under this administration

[Anonymous]

obturningrussian wrote:

Anonymous wrote:Let alone $36 trillion? Any ideas?

#ThingsILoseSleepOver

im not and never will be good at economics, but im going to say maybe "taxing the rich" or something, which will never happen under this administration

I'm guessing you've never run the math on that idea.

[Anonymous]

There aren't enough rich people.

Look at where the federal dollars actually go. We need to do something about reducing spending on Social Security, Medicare, and the military. We also need to increase tax revenue (through increases and improved enforcement of existing laws).

None of this is hard, but no one wants to even talk about any of these. Cutting spending on government programs isn't necessarily a bad thing, but it is the spending equivalent of arranging the deck chairs on the Titanic. We need to go after our biggest expenses. It will be painful to do this, but less painful than if we ignore the problem until everything implodes.

[Anonymous]

Anonymous wrote:

obturningrussian wrote:

Anonymous wrote:Let alone $36 trillion? Any ideas?

#ThingsILoseSleepOver

im not and never will be good at economics, but im going to say maybe "taxing the rich" or something, which will never happen under this administration

I'm guessing you've never run the math on that idea.

The rich will flee, like in Europe and states like NY and CA. Only viable option is to cut spending and waste. We also need to look at alternative revenue sources...like tariffs. And no I'm not a Maga. Just worried about debt.

[Anonymous]

Reduce military spending dramatically.

Convert to a single payer healthcare system
(Other countries spend far less on healthcare than we do bc of greater bargaining power).

Allow younger immigrates to come to the US and expedite their work status - we need more workers to support our aging population.

Fight against ageism to allow older works to work longer.

Allow government to have an equity stake in companies whose technology/innovation supported by federal $$ (ie grants, tax credits etc).

Sadly, none of this will happen. It’s all a deck of cards though which has balanced ok until now.

[Anonymous]

Well,for one, we need the IRS to do its job and start collecting from tax cheats. That’s what Biden fought for. Of course, the GOP hates that idea and has already cut funding to the IRS. Trump will do even more cuts. It’s completely asinine.

[Anonymous]

Anonymous wrote:There aren't enough rich people.

There are people with hundreds of billions. I’m sure we could start there.

[Anonymous]

Anonymous wrote:There aren't enough rich people.

Look at where the federal dollars actually go. We need to do something about reducing spending on Social Security, Medicare, and the military. We also need to increase tax revenue (through increases and improved enforcement of existing laws).

None of this is hard, but no one wants to even talk about any of these. Cutting spending on government programs isn't necessarily a bad thing, but it is the spending equivalent of arranging the deck chairs on the Titanic. We need to go after our biggest expenses. It will be painful to do this, but less painful than if we ignore the problem until everything implodes.

How about you volunteer to pay for social Security and Medicare, but not take it? If the 70 million Trump supporters do that we’re good to go.

[Anonymous]

The US traditionally "pays down" its debts by printing money and inflating the dollar for a few years. We're the only country who can get away with this (for now).

[Anonymous]

The only way to really reduce the budget is to completely cut military spending and downsize the military.

[Anonymous]

Increase taxes. The tax cuts from the 80s+ have killed is.

Our tax rate is pathetically low.

[Anonymous]

Tax the super rich. No one should have enough money to buy a president anyway. Solves two problems.

[Anonymous]

obturningrussian wrote:

Anonymous wrote:Let alone $36 trillion? Any ideas?

#ThingsILoseSleepOver

im not and never will be good at economics, but im going to say maybe "taxing the rich" or something, which will never happen under this administration

Where do the rich have and keep their money?

[Anonymous]

Anonymous wrote:The only way to really reduce the budget is to completely cut military spending and downsize the military.

The interest on the national debt NOW is $1.035 Trillion/year. The entire military budget NOW is $0.876 Trillion/year.

When do you think we get off this treadmill?