Americans Show They Can Make Tough Federal Budget Decisions and Reduce National Debt

[OfTheCross]

The Debt Fixer gives users the opportunity to confront many of the same budget decisions that lawmakers face and to see how those choices affect the debt.

Users were asked to make choices on 90 different policy options with the goal of putting the debt on a downward path toward 70 percent of Gross Domestic Product (GDP) within ten years and 40 percent of GDP, about the post-war historic average, by 2050.

Debt Fixer Results
Since July 2018, over 180,000 users visited our Debt Fixer tool and more than 10,000 of those voluntarily submitted their choices to share publicly. The results demonstrate that there is more support for reducing the debt with new government spending and tax policies than the current hyper-partisanship and inaction in Congress indicate.

69 percent of users successfully reached the goal of reducing the debt to 70 percent of the economy in ten years.

62 percent hit the benchmark of reducing debt to 40 percent of GDP by 2050.

The average user achieved $7.6 trillion in debt reduction over a decade. That includes 75 percent of users who attained at least $7 trillion in savings and another 11 percent who identified $5 to $7 trillion in savings – enough to stop the debt from climbing further.

If one only chose options with majority support, debt would remain stable at below 80 percent of the economy over the next decade and fall to nearly 40 percent in 2050. The results indicate broad support for many policies that together can reduce the debt substantially.

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This is a pretty nifty little tool. I can't wait to mess with it and see how I can fix the debt situation

[OfTheCross]

This was fun...here's my results. I don't know how to take a screenshot with this computer so I just copied and pasted my numbers below:

Debt as Percentage of GDP
71%2029
50%2050
 
Savings relative to current law (billions) $7420

Your Savings
Defense 210
Investments -390
Social Security 1360
Health Care 1610
Domestic 0
Income Tax 410
Other Taxes 4220

I brought the debt down to 71% by 2029 and 50% by 2050.

Most of the savings came from Social Security, Healthcare and Other Taxes