Quote:
Originally Posted by davidmash
How about something a bit less drastic? I think massive cuts like that are going to be detrimental. I was thinking something along the lines of a 10% cut across the board and perhaps a 10% increase in tax revenue. Do this each year (at least the cuts) as needed until we start paying down the debt and then start leveling off. I also want to see Congress loos their benefits. They can pay for their own health and retirement and they do not get a raise unless the nation is 'making' money and paying down the debt, unemployment is shrinking and the economy is growing and then the raise will be voted on.
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If were start now that's quite doable and a good idea. The smart thing to do would be a gradual phase in over 10 years, than the following 10 years we can pay the debt down to nothing.
Gradual is always less painful than sudden change, but we will only have the luxury of time so long.