[wideminded]

"If everybody paid 100 percent of their earnings as taxes, we still couldn’t pay it off,” he added.

The size of the public debt is about two years worth of total personal income.

[JustTheTruth]

You wrote: "The size of the public debt is about two years worth of total personal income."

Perhaps so, using cash based accounting. However, using GAAP and accrual accounting to honestly recognize the present value of current liabilities, the shortfall, net current liability is estimated by various economists to be between $100 Trillion and $220 Trillion. In other words, it is hopeless.

[IMR 4350]

But you could only do it once.