Preview

10 Point Plan to Reduce Federal Debt

Good Essays
Open Document
Open Document
1050 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
10 Point Plan to Reduce Federal Debt
The TenOC 10 Point Plan to Reduce the Federal Debt:

Are you interested in a plan to stop the growth of the Federal Debt? If so please review the 10 point TenOC plan below. If you like it (or even if you do not like it) forward it with your comments to your email buddies, facebook friends, your talk show host, your congressman, tweet about it, bog about it, post it on your websites, and you are free to send or copy it to anyone else you can think of. We need to start an ACTIVE conversation about this (or some other) plan to reduce the federal debt.
What politician is willing to “step out in front” and LEAD with a plan?

Since we do not have any politician who are willing to “step out in front” and LEAD with a plan, the 10 point TenOC plan is a place to start from the “grassroots” of America. Many people are talking about the need to reduce the federal debt, but no one has a good plan to do so because they all want "someone else" to feel the "pain" of the actions necessary to reduce the federal debt. To miss-quote JFK, do not ask what handout or benefit you can take from the government, but ask how much you are willing to contribute to the government to continue to live in the BEST country in the world. For years, we all have been "milking" the government for all we could get. Now is the time we ALL need to feel the pain of reducing the debt. The 10 point TenOC debt reduction plan is designed to affect everyone. It should be a bold "take it all" plan – do not pick one point and reject a different point. One must NOT say I like this point (because it does not affect me too much) but I do not like a different point (because if affect me too much).

In our hearts, we all know that the ONLY way to stop the growth in the federal debt is to stop spending more money than the government receives. Thus, me must reduce government spending AND increase taxes. The plan is as simple as that.

One of the primarily reasons to reduce the federal debt is to simply reduce

You May Also Find These Documents Helpful

  • Good Essays

    2. [10 points] Discuss at least one pro and two cons of government debt accumulation at…

    • 742 Words
    • 4 Pages
    Good Essays
  • Good Essays

    In this plan, Hamilton persuaded Congress to fund the entire national debt at par, meaning that the federal government would pay off its debts at face value plus accumulated interest. This would strengthen the national credit by creating public confidence in the small Treasury department.…

    • 1500 Words
    • 6 Pages
    Good Essays
  • Satisfactory Essays

    * While it is true that we spend nearly half of our budget on the military, ti would not cut down the debt. In order to do that, we would have to allocate funds specifically to pay it back, and it would barley be dented by a quarter of one years budget- the national debt is Huge right now (talking trillions)…

    • 300 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    The United States current economic status has improved from 2010 to 2012, as far as, unemployment rates, consumer income, and (lower) interest rates are concerned. When we examine the Gross Domestic Product, we are continuing to increase the United States debts. In 2009, the United States estimated GDP (purchasing power parity) was $14.38 trillion, which increased $0.44 trillion in 2010. From 2010, the GDP at $14.82 trillion increased $0.22 trillion, putting the U.S. at 15.04 trillion in debt (Stephanie Mandell, 2012).…

    • 1516 Words
    • 6 Pages
    Better Essays
  • Satisfactory Essays

    The argument’s main idea is that the U.S. debt is continuing to increase, and the government needs to halt this growth. The author, Kimberly Amadeo, begins her argument by explaining that the U.S. debt is held by the American public and the governments of other countries. Our debt is the largest in the world, and is continuing to increase. The article also explains how the debt became so massive. Amadeo states that the debt is caused by an accumulation of Federal budget deficits and presidents borrowing from the Social Security Trust Fund. Also, other countries keep lending money to the U.S. and set low interest rates, which benefits the Federal government. Finally, Congress keeps increasing the limit on the debt, thus allowing it to continue to grow. The author supports these reasons by using facts and statistics. The article is wrapped up by explaining that the economy may be thriving now, but soon the growing debt will cause a major crash.…

    • 314 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    As a member of the House Budget Committee, its our job to make sure that the country is making all of the necessary financial decisions to better our economy for future generations. We understand that each individual government agency has a major influence on the growth of our nation, but just how much money do we need to invest in each agency to keep our country going effectively? Due to the $85 billion that needs to be cut from the federal budget, the House Budget Committee has decided to choose one government program to cut and one program that needs to maintain at current spending.…

    • 555 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    ECO 372 Expectations

    • 429 Words
    • 2 Pages

    Since we see the possibility of strong growth in 2015 it is my recommendation that government spending be slowed and taxes cut. This…

    • 429 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    The Value Added Tax and Targeted Budget Cuts as a Means to Reduce the Federal Deficit…

    • 2151 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Secondly, another way to reduce debt is to completely cut out all the useless spending. In a year, the government spends $2.6 million dollars to help “Chinese prostitutes to drink more responsibly on the job.” (reference) Why waste money on prostitutes? Why does the American government care enough to help them? We could be putting that $2.6 million towards out national debt. It’s not much but anything and everything will help. The…

    • 906 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    ▪ Reducing the size of governement will than in turn help eliminate inefficiencies that result in deficit spending…

    • 270 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Balanced Budget Amendment

    • 1333 Words
    • 6 Pages

    As we discussed and read about this week in our class, the topic of the US Budget and how, why and what should we do about it has become a topic with many views and opinions. The United States of America currently holds over 16 Trillion dollars in debt based on our governments spending practices for the last ten years. Two wars, numerous fiscal collapses and cliffs, a bubble popped housing market, looming medical care costs from a socialized healthcare law and a recession have caused the government to acquire enormous amounts of debt. This debt with caused by what seems to be from irresponsible spending on both the Legislative and the Executive Branches have done nothing to lessen this deficit. One idea that has been discussed not only in Congress, but on prime time news networks is the passage of a Balanced Budget Amendment. A Balance Budget Amendment (as recently seen in House Bill HJR2, 28 NOV 2011) would require that Congress balance its budget every fiscal year unless a three-fifths majority of both houses approved of maintaining a deficit[1]. In a CNN Poll, conducted by ORC International, 74% of Americans surveyed would be in favor of a constitutional amendment to require a Balanced federal budget. So, why did it miss passing by the House of Representatives 23 votes short of the two-thirds majority needed? In the graph we see that federal debt will remain above 73 percent of GDP, far higher than the the 39 percent seen over the last four decades as stated by the Congressional Budget Office. This level is of debt is unsustainable to the our economy and a Balanced Budget Amendment may be the answer to get wasteful spending under control and reduce out national debt.…

    • 1333 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The United States government does not need any more debt. Just like every family in America knows, sometimes you have to limit your spending when times are tough. Unlike our President, who insists on spending as much money as possible, just letting the next generation take on the load of debt. It was not in…

    • 835 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Food Stamps

    • 417 Words
    • 2 Pages

    The national debt in our economy is at a tremendous amount of around 16 trillion dollars. There are many factors that increase the national debt and it would be useful to cut many programs, but the program I am choosing to cut is the Department of Welfare. Although, it would be nearly impossible to cut this program, it would be beneficial to the nation to put more rules and regulations on this department.…

    • 417 Words
    • 2 Pages
    Good Essays
  • Good Essays

    6. The federal government is currently spending much more than it has, and annual budget deficits over $1 trillion have become the norm. What is your plan to stem the tide of deficits and rising debt?…

    • 543 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Econ 545 You Decide

    • 328 Words
    • 2 Pages

    After thorough consultation with colleges it is my opinion that the appropriate response during this economic downturn is to take an expansionary fiscal policy approach, and to encourage the FED to consider appropriate expansionary monetary measures as well. Though there have been suggestions to increase interest rates and lower government spending, such actions would further stagnate any economic growth. It is the lack of public spending and loss of jobs that have set such an economical ambience. To increase taxes at this time would further diminish the public’s available spending power, and a cut in government spending would take a negative effect in the current job market. It is then in my opinion that the president along with congress increase government spending, and lower current tax rates. It is may also be of importance to consider stimulus measures such as tax credits to increase the available spending power to the public.…

    • 328 Words
    • 2 Pages
    Satisfactory Essays