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View Full Version : A sensible proposal to reduce debt . It will never happen


tomder55
Aug 10, 2024, 01:38 AM
Advancing American Freedom (AAF) has an 8 page blueprint for reducing the debt so sensible it will never happen because it steps on some 3rd rails and sacred cows . The key to fixing the debt doesn't lie in raising taxes or whittling away at discretionary spending(although that should also get addressed ) . Discretionary spending only accounts of less than 30% of the budget ,

Interest on the debt and MANDATORY spending (60% of the budget ) is what is going to tie lawmakers hands going forward.
Knowing that ;AAF's proposals suggests reforms to address mandatory spending.

A-Guide-to-Cutting-Federal-Spending - DocumentCloud (https://www.documentcloud.org/documents/25037236-a-guide-to-cutting-federal-spending)

Social Security means testing . This would apply to cost of living adjustments (cola) for higher income (more that $1million annually) .

It calls for ending Clueless Joe's school loan forgiveness plans .It calls for ending Obamacare subsidies for wealthy folks . It calls for the formation of a bipartisan commission to propose other budget cuts. It calls for the end of corporate green new steal tax credits .

So called "entitlements" are not eliminated ;only reformed .

None of this will happen of course . It goes completely against the principles of the nanny state which is the doctrinaire policy of the Dems that increasing is being embraced by populist Repubs . It is not an easy course to take . But it is the correct one to take.

jlisenbe
Aug 10, 2024, 05:01 AM
We have two choices.

1. We can continue to ignore the debt until it finally ruins us.
2. We can begin to live within our means, a decision that would likely result in a wave of economic growth that would benefit everyone.

Since #2 would call for some self-discipline and sacrifice, my money is on #1.