How to fix the deficit

How do we get out of this hole?

Getting on my soap box tonight.

Here Goes:

I really like the idea of taxing China for importing all their stuff over here. Much of our National debt is in interest. My first choice would be to make our creditors give us a better interest rate on our debts..... did you know we pay millions of dollars in interest? Many of these loans are skimming 80 percent interest! It is ridiculous. We need to get these lowered to like 30 percent and even that is high. our debt would be lowered dramatically without even having to affect our American citizens.

We spend almost as much on defense as we do on social security, shocking but true. The Dept of defense spends way too much for all these high tech planes and ships and experimental equipment..I can not see paying millions of dollars on stuff we do not even end up using. We spend too much on equipment that can be made more affordable too. Yes we want to keep paying our soldiers and get them the gear they need, the money never seems to get to those who need it....my sister and brother were in Iraq and both needed better equipment and the food was half rotten.

All of these departmental agencies sometimes end up overlapping like CIA and FBI and who knows what other EA group is working undercover that we don't even know about ... here are a few ATF, DEA,IRS -CID. you name it, they have a criminal investigative team for it. We pay our taxes for all this stuff it and overlaps, and it just makes me wonder how many of these agencies, we could condense. Not that we don't need control and monitoring. Its the money that the government spends on high paying undercover jobs that we never know about. That's what we need to look at. Like all these weapons that went into the wrong hands... our taxes payed for these. They are probably killing innocent people to this day and Obama has not given an apology to Mexico either?

When reducing our debt,. I firmly believe we should not touch the peoples social security. I see so many seniors who are living off their social security, most of them do not have any kind of retirement and if they did much of it got taken away by the stock market crashing. I don't like the idea that Obama and the AARP say that the republicans will cut the social security and medical for seniors, that is just not true.

Ok I am done ranting and raving, on the debt issue. Thanks for listening and the input good or bad I am just glad, I hope it gets us talking about it so maybe we can get somewhere!

what would you do?

what would you cut in our budget?

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Comments 4 comments

mindyjgirl profile image

mindyjgirl 4 years ago from Cottage Grove, Oregon Author

The overall interest is generally low on most of the debt, but there are some loans that jipped us. mainly banks... http://www.sanders.senate.gov/newsroom/news/?id=bf...


mindyjgirl profile image

mindyjgirl 4 years ago from Cottage Grove, Oregon Author

https://www.treasurydirect.gov/govt/reports/pd/acc...

This is a site that is from the treasury and shows all the interest we are paying.

they have all kinds of records here, you can access. it was shocking , I hope they have since refinanced or updated loan agreements.


aa lite profile image

aa lite 4 years ago from London

Is the interest paid on debt really that high? That is shocking if it is true. I always thought the US was able to borrow at very low rates because it is considered a fairly safe haven, when compared to say the Eurozone. It would be interesting if you could provide a link to the original information.


poetvix profile image

poetvix 4 years ago from Gone from Texas but still in the south. Surrounded by God's country.

You make some good points here. I really like the one about the interest paid to China. I had no idea the interest rate was so high. Loan sharks offer a lower one. I was a bit taken back when you mentioned defense, but you make a point about some of the equipment could be made for less. Thank you for a most interesting read.

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