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Readers Respond: What's the Best Way to Reduce the National Debt?

Responses: 201

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oh dear

i'm doing a project on the growth of national debt and theres one thing i can say for sure WE'RE SCREWED!!
—Guest chava

IMMEDIATE ACCOUNTABILITY

Move to significantly reduce entitlements at all levels. Hold Representatives IMMEDIATELY ACCOUNTABLE to demonstrate fiscal responsibility. The Federal Government is grossly overstepping its bounds. Our elected representatives need to not just acknowledge that they got the message of the 2010 elections, but communicate how they are moving NOW to make the necessary course changes. Longer term, watch the way your representatives vote on key issues, and if you think they are not acting with a sense of urgency with regard to the problems the nation faces, contact them IMMEDIATELY by letter, email or phone. Especially, watch to see that your elect representatives are ACTING in accordance with their promises made to you to assure their election. WE don't have to wait for the next round of elections if we don't like what we see. CITIZENS must take personal responsibility and BE INVOLVED.
—Guest FED ^

kelseys53

The averadge american needs to relize that something has to give. I work for the goverment and agree we need a pay freez ,but why has congress taken a hit full pention after one term I have to work 35+years for my retirement cut there pentions make them pay the exact same health care as all americans there will be no change in Washington with the past Nov. election. Why do millionaries go in to public office? to become reacher and make the working person pay for it. You could count the number of conressmen/sanators on your fingers who care about the average american. The Tea Party is just the spring line up. listen to them the have already started to position mens groups against Womens groups but do they care no. Every american needs to make a sacrifice but before the poor unemployed homeless elderly do the President down need to cut thier beifits and live a day in ower world .
—Guest jimk

debt

get rid of the fed and get rid of keyensian economics it's is actually geting rid of it self>
—Guest Fed up

our real problem

The real issue is the poor and elderly cant live on what they could earn. Make 15 per hour the new min wage, and give tax incentives for creating work at home jobs for the disabled, single parents, and seniors. eliminate welfare, ss, and disability. Donate housing, utilities, and foodstamps to these folks. Give medical to those with children who collect from these. Energy corps are too powerful. We waste food everyday. Vacant houses are everywhere. Doctors and hospitals are doing well enough to sacrifice a little. Give them a tax deductible chance to serve a greater good purpose. Release nonviolent drug offenders. Execute the life and death sentences. Legalize all street drugs with a prescription. Put DEA on borders airports and harbors. If someone screws up (DUI, neglecting the kids) shoot them publicly directly after trial. Such incidents will stop. Give a $7500yr credit for adopting an elderly person, family or not. Refuse ALL medical care except hospice to those 60+ who cant pay.
—Guest jed

There are no good answers.

The "People" have no more of a clue on how to fix the problem than the government does Heaven87. To Jo Ann, there's a special system where you can donate money directly into the debt relief. Money entered through that is not allowed to be used for any other purpose by the government. It's tax deductable also.
—Guest Harsh

budget

It's unrealistic to push for a constitutional amendment for a balanced budget, etc. But one thing we can do is to reduce the military spending by a quarter. Sell a couple aircraft carriers to our closest allies, bring the soldiers home. America has to face that we aren't THE superpower but one of a handful of extremely influential economies. Our country's mindset of entitlement had produced federal spending that seems unchecked and over the top. I know we are in a slump economically, but we are pulling out of it slowly- it will take time. What it comes down to is a states' rights issue on many different issues. federal spending, immigration reform, marijuana laws, gay rights for marriage- they are all struggles between whether the states or the fed have control. It is time to move back to a more state centered country, the federal gov needs to back off in spending and in control. Don't just hand over the budget to what the people want, hand over our rights too.
—Guest dan

UNETHICAL MEANS FROM THE TOP DOWN

THERE ARE STILL TO MANY PREJUDICES IN OUR NATION. NATIONAL CORUPTION STARTS FROM THE TOP DOWN. IF OUR GOV. DO RIGHT, THEN THE PEOPLE WILL DO RIGHT. IF YOU RELEASE A MAN FROM PRISON AND NOT ALLOW HIM TO WORK TO PAY FOR THE PRESSURES THAT HE'S HELD UNDER WHAT REASON DO YOU LEAVE THIS PERSON TO NOT REOFFEND. HE IS DOOMED IF HE DOES OR DOES NOT. IF A MAN IS FREE TO ROAM IN SOCIETY, LET THE MAN WORK IF HE IS WILLING AND ABLE TO DO SO. TO MY KNOWLEDGE EX-OFFENDERS HAVE VERY FEW RIGHTS. THEIR HUMAN RIGHTS ARE BEING VIOLATED EXTENSIVELY EVERYDAY AND VERY FEW PEOPLE ARE IMPLIMENTING THEM INTO THE EQUATION.
—Guest ROD

minimum wage, for example

Is min. wage too high? Does min. wage stimulate the economy? What does the ind. who gets min wage save it, or do they spend it? What do they spend it on? Answer: They spend it on an increase in rent; on an increase in food and clothing prices; on an increase in gas and insurance prices - in other words on the "necessities." They do not spend it on "luxury" items: a newer frig with an ice maker in the door; a new car; the latest fashions; or a large, flat-screen tv. On the other hand, an increase in min wage helps lift the wages of those making more. THEY tend to save more, but they also buy items (like durable goods) that DO stimulate the economy. On the other hand, if the min wage is lowered, other wages can be lowered too, affecting more and more people and the economy. If you really want to decrease unemployment there should be a law which states that only one person in a two-person family can work outside the home, unless they want to pay a marriage penalty.
—Guest bill

Socialism is not the answer

I agree that both parties are to blame but the biggest problem we face going forward is entitlements. Wars end but entitlements go on forever. They are like a drug that we all get hooked on and are justified by liberals on a moral basis. We are "entitled" to a high minimum wage, food stamps, medical care, social security, subsidized housing, drug benefits, unending unemployment benefits, etc. etc. even if you are in the country illegally. Who pays for all of this - China? For how long can we use the China credit card and what is the impact on national security? When do we become the next Greece with Federal and State employees outnumbering and out earning private business employees who pay the taxes and fill out the paperwork which destroy jobs? Does anybody think that is a sustainable scenario? Socialism has not worked elsewhere so why does Obama, Reid and Pelosi think it will work in the USA?
—Guest gertrude

A carpenter's common sense Economy

I have run a business and do not believe that giving businesses money to invest in expansion will create jobs. Lack of demand is the fundamental problem not the lack of capital. What' s the point of a construction company, for example, purchasing additional service trucks, if people do not have the money to pay for construction services. So how to stimulate demand- by creating jobs. How to create jobs- by stimulating demand. It's demand stupid. My suggestion is to payout the stimulous money directly to the taxpayers. Code the money with a purple strip so that you can look in your wallet and see that the stimulous money is affecting you life. The catch is that the stimulous money is good for six months and then it is no good- spend it or lose it. It must be used for product and services made in the USA. That way we can send a message about buy AND producing in the USA and penalize company that have shipped jobs oversees. Give the money to the taxpayer- it our money anyway.
—Guest Mike Milken

politicians are criminals

They rob ss for loans to foreign countries and then forgive the loans. They should be held accountable and jailed for stealing from honest hard working americans. SS was not created for their slush fund but that is exactly what they use it for!
—Guest jjeff

Amend Constitution With Balanced Budget

If national debt continues growing will soon reach tipping point where complete economic meltdown can not be prevented, which will destroy U. S. and our freedom. Great Depression will look like a picnic. Both parties run up deficits and increase national debt. Only way to prevent disaster is a Constitutional Amendment requiring balanced federal budget with very narrow exceptions for declared war and national emergency such as a Depression, that can only be done with 2/3 majority approval by Congress and approved by President, but requiring payback within 5 years. Any debt larger than 20% of avg. GDP for last 5 yrs. must be approved by majority of voters. This is the only way fiscal responsibility will be restored. It cuts through all the political posturing and games, prevents pork barrel spending and forces focus on what is required. Will keep taxes low and the economy envy of the world with jobs for all. Should also set max period 20 years to pay off present national debt.
—BobbyWilliams

Nothing is free

We have become a nation of entitlement. We need real CHANGE in our political and social structure. There is a price for everything. Nothing is free in life. This election us citizens can let their voices be heard by electing politicians we believe in preserving our economy and putting US interest first. Not entitlement...
—Guest Free

Wake Up

Make jobs, and then make people work for a living. I see homeless and welfare riders everywhere I look. Women who get pregnant just to get the financial aid. Our country just keeps giving; we give aid to third world countries while our own children die because no one is looking out for them, no one is teaching them how to live. We give relief to the tired and the hungry and the oppressed, when our soldiers are weary of war, of death, and of life. We have given so much that we don't have enough to support ourselves. I am the next generation; next year, I will graduate from high school and enter the world. I will get a job and pay taxes; I will adopt children and raise them to be American citizens. I have only figured out that much from watching daytime television and talk shows; no one has taught me how to do anything I need to. That's how we fix the world: teach the kids what they need to do, before they grow into adults that have lost the knack for survival. Then again I may just be a
—Guest Patricia

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