Showing posts with label debt reduction. Show all posts
Showing posts with label debt reduction. Show all posts

5.20.2010

No Strenuous Activity For You... Two Weeks!

Surgery is over, and on doctor's orders I am attempting to remain as immobile as possible. It's really not that difficult.

So, as I was watching the Montreal Canadiens drub the Philadelphia Flyers, I came across this very interesting debt reduction exercise via one of my favorite blogs. It is a calculator created by the Committee for a Responsible Federal Budget, in which you can select from a variety of different spending cuts and revenue increases to reduce the Federal debt to a manageable 60% of GDP by 2018 (from a projected 85% of GDP). Too many people think they can magically eliminate the debt by simply regurgitating tired political mantras. This exercise is a fair example of how complicated debt reduction actually is, and how many difficult choices will need to be made. I recommend everyone give this a try and let me know how you did.