Taxes needs to be at 19% GDP.
Spending needs to be at 17% GDP.
The two percent differential needs to be used to pay down the debt.
The two percent differential needs to be used to pay down the debt.”
Impossible, we could not pay down ANY DEBT if we wanted to. That sort of deflation(restoring value) is cryptonite to a Central Banker. We have a stated policy of 3% inflation (theft of value) annually, that my friend REQUIRES at least 3% higher DEBT annually, add in the Interest and it is 5%.
NO GOVERNMENT DEBT CAN EVER BE PAID DOWN.