I’d like to see at least a 20% cut of all spending across the board—entitlement payments included.
That will cause pain—me included—but nothing like the pain that would result from America going into default or (maybe worse) paying off the debt with funny money.
20% across the board, entitlements included, would leave us with spending at $2.8 trillion, still 600 billion in the red. Moreover, interest payments (minimum payment on our national credit card) can’t be cut.