I’ve been thinking a lot about the greatest threat to our nation and our liberty–the National Debt, coupled with unfounded liabilities. I have a skeleton, 10-point plan. Please comment.
Here are the facts: 2015 Figures
1. 3.8 Trillion budget
2. 439 Billion one-year deficit
3. 20 Trillion accumulated debt
4. Over 100 Trillion in unfunded promised payments
Here is my plan:
1. Cut military spending by 20% = save 120 billion
2. Cut international affairs by 50% = save 25 billion
3. Cut rest of budget by a combined average amount of 15% = save 540 billion
Total savings = 689 billion
4. 439 billion = balanced budget; 250 billion to pay down debt and pay off 20 Trillion debt in 80 years
5. Guarantee Social Security benefits and Medicare at current levels, but do not guarantee increases.
6. Separate Social Security and Medicare from the general budget and have all receipts go into their respective accounts and be used only for those programs. Consider some gradual privatization.
7. Eliminate corporate taxes.
8. Simplify personal taxes to 0 deductions and revenue neutral status.
9. Consolidate and eliminate redundant departments.
10. Allow attrition to reduce federal employees.
What thoughts do you have?
National Debt
