So long as we’re going to live in a fantasy land and accept a deal where $4 trillion is cut over 10 years, why not expand the fantasy to accept a 10-year plan to eliminate the deficit by the entire amount. That the present congress will do anything serious is in itself a fantasy.
If, in fact, they we’re serious, we would start the 10-year cuts in 2012, not sometime in the future.
Unfortunately, we’re in such deep crap, there’s no way to pay off the debt unless the government raises the tax to 100%. To pay down at the debt at the present tax rates in 10-years, we would have to reduce federal spending by $1.4 trillion per year. After including the interest, we would, with present revenue, have to reduce the federal government by 75% to meet the objective. Perhaps a 75% reduction in federal spending would be a good thing.
My point is that it is a fruad, needs to be 2 trillion NOW....