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Reply to "How can we reduce the national debt by $1 trillion?"
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[quote=Anonymous]Like anyone who has been loving beyond their means, we have two methods we can use to dig our way out of this hole: earn more and spend less. We need to raise taxes on everyone, especially - but not limited to the rich. We also need to make painful spending cuts in all areas - defense, entitlements, etc. We should have done this decades ago, even if it was painful. We have to do it now, even though it will require sacrifice and suffering. If we don’t make the hard choices now and try to pass the problem along to deal with in the future, we are fast approaching the point where that will be mathematically impossible. Just as interest compounds on your investments, interest compounds on our national debt and having our credit rating downgraded certainly isn’t helping. [/quote]
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