“Elon and Ramaswami need some magic.”
I’d guess we could cut our current spending in half without the average person feeling a thing, but there will be a glut of government workers to add to the unemployment lines and their severances will cut a little into the immediate savings. But a trillion cut is possible.
“Our total revenue from all sources in the fiscal year ending in 2024 was $4.92 trillion... Of that, 37% was Social Security and Medicare, or $1.82 trillion... $4.92 total revenue less $1.82 trillion in Social Security and Medicare taxes leaves $3.1 trillion in General fund revenue... $3.1 trillion total general fund revenue divided by $36 trillion in debt is 8.6%. If interest rates hit 8.6% it takes 100% of our General Fund Revenue just to pay interest, with nothing left to run the government.”
We need these cuts and to have a more efficient government going forward, but we also need policies that support growth, which Trump has proven himself to be very good at. He and Congress need a good strategy to maximize America’s prosperity based on our innovations, especially in AI and robotics.
Imagine if our GDP tripled and the current cut the government takes (17%) were cut in half. Less taxation but much more revenue. Then, balance the budget AND start paying down the debt. Or, at least don’t accrue more debt.
You and I agree. I just realize that the pill to cure it is far more bitter than most realize, both liberal and conservative.
I pray that it works out.
🙏🙏🙏