Treat the current debt ceiling as an amount that cannot be exceeded, basically like a debt ceiling.
Please Mr. President, remain vigilant as you were when you voted against raising the debt limit while you were in Congress. Spending less saves money.
Make members of Congress where patches on their clothing like NASCAR drivers to show who is giving them special interest money. This would generate money for the government through the ad revenues and would let the public know what companies and people are financing our elected officals.
If we could cut the amount of money we put into professional sports events and the amount of pay we give athletes to play. We could help the national debt and not have to worry about destroying the middle and lower class americans life.
The US is willing to spend our hard earned tax dollars helping other countries that don't even want to help themselves. It's time to stop paying foreign aid and save that money until we can turn our debt around. Once we get our debt under control we can revisit the idea of wasting our money on other countries.
Why is the government sponcering so many programs that in the long run show no affect on what they are for? I would like to know.
Anyway, lets get rid of all the programs that have been proven to show no affect other than to just make you feel good they are there. With the resources freed up from those programs we can put more money into education or debt repayment and get this country right back on track.
House passed Cut, Cap and Balance, and then the Senate tabled it. Why? The Senate has NO PLAN to deal with the debt crisis. Stop wasting time and untable the bill and pass it NOW! This will save $Trillions over the years, and bring fiscal responsibility finally to the federal gov.
The government borrows by selling mostly long-term bonds with an interest rate of around 4% to 5%. The government should borrow by selling more short-term bonds with an interest rate of 0.25% to 2%. Paying 2% instead of 4% on a $14 trillion debt would save $280 billion per year.
We pay about 5% on long-term debt. Greece pays 15%. If we default and start paying 15% like Greece, it will cost an additional $1.4 trillion per year in interest, based on 10% times debt of $14 trillion. The additional $1.4 trillion in interest is equivalent to about 2/3 of the federal government's annual revenue.
Executive Office of the President
EXOP - Council on Environmental Quality and Office of Environmental
Department of Veterans Affairs
