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Mary asked in Business & FinanceCredit · 8 years ago

How would go about paying off nation's debt?

If you were a member of Congress or leader of White House how would you go about solving the nation's debt. If we don't pay off our debt soon, we going in up like Greece and other nations that did not want deal with their problems.

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  • 8 years ago
    Favorite Answer

    http://poetvix.hubpages.com/hub/How-Would-You-Get-...

    Here are some ideas. I don't necessarily agree that we should cut social benefits, but I think we have to get people back up on their feet. We do that by job creation, people can't get on their feet if there are no jobs.

    Also, we need to be checking fraud, waste and abuse and stop abusive practices.

    I agree that Politicians, since they helped get us into this mess should be willing to take less in pay until the economic situation has recovered, or they need to come up with ideas that are going to resolve the issues.

    Lobbying with big businesses does hurt us, we are dealing with the richest people in the world when we do this, many of them who have long since forgotten what it was like to be poor and in need.

    Although I do agree that if you check many of these same people have charity organizations where they re-invest back into our countries.

    Sometimes I think there is no way to pay off the debt without raising taxes. You see them now trying to legalize marijuana, which is something they did during the Great Depression (to create revenue), they took away prohibition.

    <http://www.npr.org/blogs/money/2011/04/15/13542358...

    Andrew Jackson was the only US President to ever pay off the debt and he did it by selling land. I think the Government should look into selling some of their properties or renting them.

  • 7 years ago

    Politicians should act like the money they spend is coming out of there own pockets. And stopped voting themselves raises when people can't find jobs, its bad for morale. Who do you know (employees, and that's what they are) can give themselves raises, as far as I can see they haven't done anything to deserve it. Make it illegal to stick there fingers into accounts (like pension funds and social security) and not paying it back. Then saying there the reason were going broke is because of these plans.G bush started a war he couldn't afford, and put it on the national credit card. Where is the common sense in this country gone.

  • 8 years ago

    First, I would impose a tax on spam (this would apply to junk e-mail, not to the food with the same name). Because spam is so unpopular, the tax would not be as unpopular as most taxes. Anyone who did not send spam would not have to pay the tax. If spam continued to be sent, then the tax would bring in some money to help with the debt. If less spam was sent because of the tax, that would be ok too, because there would be less spam, even if it did not help with the debt.

    Next, I would raise the tax on cigarettes and other things that are smoked. Each dollar of tax on these things reduces the debt by more than a dollar. In addition to the money that the government gets from the tax, it also reduces the amount of smoking, which reduces the amount that needs to be spent on health care.

  • Anonymous
    8 years ago

    They've been saying that since the 80's.

    Source(s): An older person who's long bored with Republican scare tactics.
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  • CatDad
    Lv 7
    8 years ago

    Please note that this is a forum to help individuals with personal credit and debt issues.

  • ?
    Lv 7
    8 years ago

    We would have to stop borrowing first - that will be the day

  • 8 years ago

    quit spending

  • 8 years ago

    i would tell everybody to flee to can Canada...lol

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