(10-11-2026 08:53 PM)goodknightfl Wrote: the debt is to a size where savings in a given year don't matter. interest is the #2 spending item.
Net interest this year is 1.05 TRILLION.
So even if U cut spending by 1 trillion you have not even made a dent in the problem. We are at least 40 years to late to the table.
DOGE CUT ABOUT 22 BILLION, TARRIFS HAVE BROUGHT IN JUST BELOW 200 BILLION a year last year and this. that doesn't even pay 25% of the interest cost.
[WE ARE DOOMED!!]
Not true. The debt is $40 trillion annual revenue is about $5.6 trillion. To put that in relatable terms translate it to a typical middle class household.
Say you have a $300,000 mortgage, two car loans that total $60k, $30k in student loans, and $10k in credit card debt you pay a larger percentage of your income in debt service than the federal government if you make $150,000.
The government’s debt service is interest only, so that $1 trillion is only 18% of income. Most people pay over 20% on just their mortgage and the government doesn’t pay taxes and that 20% mortgage payment is based on pre tax income.
So we make plenty to service the debt, we just need to stop taking vacations and getting our nails done every week. Our current revenue is higher, by a trillion dollars, than spending was in 2019. If spending was at 2019 levels we would have a trillion dollar surplus. If we had increased 2019 spending by inflation only we would have a $300B surplus.
My super simple plan to get rid of the deficit in 30 years without raising taxes:
Balanced budget amendment that specifies 25% of tax receipts go to debt service (interest paid first, remainder to reducing bonds issued). That would be about $1.4 trillion for FY 2027. Annual audits of every government department and agency. Push as much as humanly possible back to the states, the way the founders intended. If a state wants super generous Medicaid programs they can pay for them and people can decide where they want to live. Let states set their own Medicare and Medicaid rates and get the feds out of it. Feds maintain control and collection of Social Security.