Please raise your hand if you understand the magnitude of the 15 trillion dollar debt:
Past 20 years, (actually during the mid 90’s) We were barely able to achieve budget surplus of merely $ 200 billion dollars and several years in which budget surplus reached $ 100 billion.
Assuming we are able to achieve $ 200 billion budget surplus for next 20 years, we would only be able to reduce the debt by 4 trillion dollars. Think about that… Each trillion we add to the debt will take 5 years of $ 200 billion surplus to erase.
1.5 trillion dollars in debt reduction over next 10 years politicians are talking about? They don’t mean reducing the deficit from 15 trillion to 13.5 trillion, they MEAN REDUCING THE RATE AT WHICH DEFICIT IS PROJECTED TO GROW BY 1.5 TRILLION DOLLARS!! i.e from $ 15 trillion to 18 trillion instead of to 19.5 trillion.
Please respond if you agree that we need to cut spending drastically and raise the tax—> Not just on rich, but on EVERYONE!!! We have to be on this together.