HOW TO PAY OFF THE NATIONAL DEBT?

The United States currently owes $26 trillion, $3 trillion of which President Trump needed to  spend to help the U.S. to recover from the Corona virus lockdown of the economy. This debt is an albatross around the neck of the Country and there is little likelihood that it will be even partially paid off anytime soon…or is there?

The richest country the world has ever seen, sitting on top of  huge untapped oceans of oil, natural gas and coal, as well as millions of square miles of publicly-owned land, and we’re the beggars of the world, owing trillions of dollars to China, Japan, and many other countries, including our own Federal Reserve, which creates money out of thin air.  This picture doesn’t make sense but what can be done to change it?

There are many proposals floating around to help address this problem, from a fair tax to a flat tax and the “Penny Plan”.  Ohio Governor John Kasich paid off billions of Ohio’s debt by cutting ineffective programs.  Former Wisconsin Governor, Scott Walker, cut government programs and also stopped the Union practice of letting outragiously expensive Union contracts.  Former Florida Governor, Jeb Bush, created many jobs and took Florida from billions in debt to billions in surplus.

Various plans have been tried, some with dire consequences, like the “Sequester” that President Obama suggested and Republican leadership agreed to.  The Sequester had been devastating to the military because it cut budgets across-the-board, both good programs and bad.  There are many expensive Federal programs that are ineffective and do little or nothing, have been around for a long time, and need to be terminated.  Some programs simply need to be revised in order to make them effective and efficient.  But any revising or terminating requires a strong leader. That’s why the 2016 Presidential election was so important.  Not many leaders would cut ineffective government programs and also expand production of, and then sell off, oil, gas and coal to other countries and perhaps sell surplus public land to its citizens, but President Trump has begun this process and will continue to do so to pay off the National debt.  He must wait until after the 2020 elections because cutting government programs is unpopular and President Trump would therefore probably not be re-elected if he started cutting programs before then.  Bringing back trillions in cash currently “parked” oversees by American corporations is also greatly helping now that the U.S. corporate tax has been reduced from (highest-in-the-world) 35% down to 21%.

If the United States doesn’t get its spending under control it will most likely be piled onto the ash heap of great countries that spent their way into mediocracy.  This requires President Trump and a Republican House of Representatives and Republican Senate together in order to end those Federal programs that are not helping people.

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