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.
I knew someone would mention that. Hopefully, keeping the government from borrowing at present levels and a serious effort by Congress to reduce the deficit will spur growth sufficient to generate revenues to make up the difference.
And if it doesn’t, cut more.