Debt

Great up-to-the-second ticker of all aspects of our debt. – http://www.usdebtclock.org/

Facts:

The U.S. national debt is at a staggering $13.8 trillion (as of December 2010) and is increasing.
The only way we can even hope to begin repaying this debt is to balance the budget.
The three biggest budget items are: MEDICAID/MEDICARE, SOCIAL SECURITY, and DEFENSE/WAR.
There are two ways to get any budget back into the black: CUT SPENDING, or INCREASE REVENUE.

And guess what… I have ideas on how to accomplish both. Taking advice from the great President Franklin D. Roosevelt, any recovery needs to have short-term solutions for immediate relief, medium-term solutions for sustained recovery, and long term solutions to prevent the problem from occurring again.

Short-term solution

Sweeping budget cuts for every federal department.

A voluntary pay cut for all Members of Congress, Cabinet members, the President, and Vice President.

Income taxes for those earning more than $200,000 restored to pre-Bush levels.

Medium-term solution

Bipartisan Four Points Tax Act (Two tax cuts, two tax increases)

Long-term solution

Balanced Budget Amendment (All federal budgets must be balanced)