The 4 Trillion still leaves us about 10 Trillion too short.
We must cut and reform the big entitlements, such as Social Security, Medicare, and Medicaid (or raise taxes by a huge amount).
Without doing the above, the dollar crashes, and it’s GAME OVER for the US as an economic superpower.
But judging from the reception that I get here when I bring up Social Security reform at this so-called conservative site (i.e., make it into a means-tested welfare program), it AIN’T GOING TO HAPPEN.
...so get ready for a ride to the bottom.
right. 4 trillion is chicken feed.
As I read it this plan merely cuts the DEFICIT by $4T. Current deficit estimates are for $20 TRILLION over a decade. That means that the DEBT will continue to GROW. We currently pay $676 Billion in interest on the $14+ Trillion Debt. Under this plan we will continue to INCREASE the DEBT beyond the $14+ Trillion currently. Another Half-A**ed attempt to scam the problem.
We know what needs to be done. The problem is the lack of political will.
Over the next 10 years we will be spending approximately $17 Trillion more than we take in at the Federal level. They talk of “bold initiatives” by promising to cut 25% of that amount. That still would be nearly a Trillion dollar deficit every year for ten years. I don’t like $15 Trillion as a debt number, how does $25 Trillion sound, and right on time for the baby boomers to all be needing SS, Medicare, Medicaid, and some other sort of help paying for nursing homes, and end of life care. Even those called bold, like Ryan, are way way short of the goal.