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Arriving at a balanced budget and a AAA rating

Updated on August 10, 2013
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Returning to a AAA Rating

Our debt is growing more than 4 billion dollars every day. That is approx. 1.5 trillion a year. In order to reduce the debt we need to cut it by more than what it is growing. We need to cut it by at least 2 trillion a year. That is 1/2 trillion more than it is growing. That isn't much in the big scheme of things. At least if we do that it will start coming down but with all the Baby Boomers going on Social Security, that won't be enough over the next few years. We also need tough cuts in spending. we need to cut at least 5% per year in the budget to make a noticeable difference. We should start by not giving money to other countries that are using it for controversial things such as money going to China to study prostitution. We should cut all funding to communist nations where the money would not be used for the benefit of the people. We need to correct the corruptness in our Welfare system. We need to stop all funding in our own country for ridiculous studies like finding out the sex of a fly. Do we really need to spend millions of dollars on this, especially when we are going in the direction of bankruptcy? There are many areas that can be cut but we need to make the cuts and then continue the reductions until we have a balanced budget. The savings should be applied toward the debt reduction. We will have the debt reduced by 4 trillion in 10 years and the spending will be under control with a balanced budget. I have stated before that we are going to be down graded and we were. We can protect ourselves from further downgrade and get back our AAA rating if we act responsibly now and in the future. It is going to be hard for all Americans, it will be harder for our government. They are not used to cutting and not being able to spend. By being down graded it will over time prove to be the best thing for our country. It will make our government more responsible in the future. I said the debt ceiling should not be raised under any circumstances or the cuts will not happen but it was raised and now we were downgraded. The Obama administration already wants to increase spending. They are asking Congress to approve funds to loan to contractors to fix bridges and roads. Raising the debt ceiling says we have more to spend so spend they will. This thought process is not the path to prosperity. We need to make the necessary cuts in the spending budget now and apply the savings to the debt. One more point, as the debt decreases and the spending cuts are made then we should lower the debt ceiling to control the government from spending to that level again. For every 1/2 trillion that the debt is lowered, we should lower the ceiling to that level. Within 40 years the debt will be paid off but within the next 5 to 10 years we will be seeing a significant change in our debt balance, and spending. We can get our triple a rating back in a few years. Just be responsible and stick with the plan.

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    • Allen Williams profile imageAUTHOR

      Allen Williams 

      6 years ago from Pennsylvania

      @MurcielagoHeart

      Very interesting quote. I'm not sure I understand it but I will need to think about that for a while.

    • MurciélagoHeart profile image

      Murci√©lagoHeart 

      6 years ago from San Francisco

      I like to keep an eye on what's happening, but I also love the quote by St. Francis of Assisi:

      "Wear the world like a loose garment"

    • Allen Williams profile imageAUTHOR

      Allen Williams 

      6 years ago from Pennsylvania

      Thank you for your comments MurcielagoHeart. I appreciate that you read this hub and contributed with some good ideas. You are right that would be another hub. There is so much more to say about the subject.

    • MurciélagoHeart profile image

      Murci√©lagoHeart 

      6 years ago from San Francisco

      I agree, common sense, anything but common apparently. How about sealing up our borders once and for all? No more illegal immigrants crowding schools, using welfare, using our hospitals $3-6 billion/year, sending their wages south of our border= $30billion/year, and there would be more jobs too, I could go on and on, but that would be another hub. Being an American means something, and we need to honor and value immigrants that are coming here legally.

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