Good and informative Vid Mock !!!
Seems to me that we need about a 60% to 40% split of at least 5 trillion reduction in the debt over the next ten years, as how we deal with this and it must be very very soon. 60% cut in spending, and 40% revenue increases. Do away with Bush tax cuts for starters, those taxes didn't hurt our economy before and they did anything but help since those cuts, certainly nothing for jobs.
End those wars, major cuts to the Pentagon, cut out the sweetheart deals to big Pharma, Hospital groups, HMO's and etc getting rich off of medicare, medicaid. Increase the age of eligibility for SS and medicare, increase the cut off for SS deductions from $98,000 to $120,000 are a few Ideas,
If the government is going to print money do it to pay for infrastructure projects all over the US to put people to work. invest in technology to reduce our dependence on oil, treat these investments with the enthusiasm that we spent on going to the moon back in the 60's
End corporate welfare in the form of subsidies to big oil, end the subsidies for big business taking their jobs overseas. End the tax shelters and loopholes.
There's a lot that can be done, but it needs to be started very soon, this weak effort of a few trillion under the latest deal to avoid default will do very little toward doing away with the deficit.
One things for sure, there will be pain for everyone, this cannot be fixed totally off the backs of the lower and middle income groups, cuts to the poor and elderly, This cannot be fixed by giving more tax breaks to the to the richest, this cannot be fixed by yearly increasing the budgets of the pentagon, all side must share in the effort to fix the problems.
That's my two cents,