How to Reduce National Debt

Topics: Corporate tax, Tax rates around the world, Tax Pages: 2 (582 words) Published: October 18, 2012
Drew Burgelin
AP English Language
17 October 2012
Reducing the National Debt

With the 2012 Presidential Election getting closer, we are seeing candidates’ plans to solve our national debt of roughly 16 trillion dollars. With our country’s debt increasing by 4 billion dollars a day, we desperately need a miracle in the form of an effective debt reduction plan. With Obama struggling to fulfill this task, many people have been coming up with their own ways of solving this crisis. For, at this rate, my generations and the generations to come are being sold into “perpetual debt slavery!” At any rate, I believe that if we cut all department funding by 10%, cut corporate tax rates, and drastically cut all federal funding to entitlement programs we can begin to trim the debt. (topic #1)

In order to help reduce the debt, the ALL departments should receive a 10% cut in funding. This saves us billions right off the bat. You might ask, well how are these departments going to function with this funding cut? Well, just like any business, if there is a reduction in funds the business has to find a way to survive! The cut requires departments to find a way to do more with less. However, 10% really isn’t a significant cut for government departments and I believe these departments can find a way to continue functioning. Many people are criticizing Romney for his plan to necessitate very large cuts in Medicaid, education, health research and other programs. What people need to realize is that these cuts are 100% necessary to solve our debt crisis. It’s not going to be easy to do this, but for the sake of the future of our country we must cut spending/funding!

Next, cutting corporate tax rates will help business in our country. Specifically, it will create strong incentives for businesses to hire. Recently, we have seen that businesses have been reluctant to hire new staff. With more people working comes more people making money. More people making money means more...
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