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Is the US National Debt a serious problem?

*Arturis*

Well-Known Member
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(04/07/2013 9:00 AM)
The U.S. National Debt is over $16 trillion, and is nearing 100% of U.S. economic output. At this level, it's unsustainable, and will ultimately drag economic growth. Why? The debt is financed by U.S. Treasuries, a large portion of which is held by foreign governments. As more debt is issued, the dollar declines in value. This means foreign holders of U.S Debts get paid back in currency that's worth less, further decreasing demand. Worst of all? The debt will ultimately be paid back by our children and grandchildren, through increased taxes.
What would be the best solution to the U.S. National Debt?
a/ Raise taxes and eliminate "loopholes"?
b/ Cut spending?
c/ Do both of those above?

 
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DeletedUser34

how about you eliminate loopholes and see if you need to raise taxes.
or
How about cutting pork, instead of just cutting spending across the board.

I don't think your a and b options offer the whole picture, which is absolutely more complicated than just those two points. Just saying.
 
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