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http://gonzalolira.blogspot.com/2011/06/dream-little-dream-how-long-would-it.html
A good read for those who have not done the math and dont really understand what it means to "balance" the budget and reduce the deficit.
I see alot of want to be economists running around thinking "hey we can reduce our borrowing and pay off our debt no problem"
hey these same people get excited about cutting over 1 trillion dollars in 10 years(100 billion a year).
When to even be serious, you need to cut more then 1 trillion a year. Every year you borrow is still a year you are living outside your means, no matter if the rate is 0% or close to 0%.
A good read for those who have not done the math and dont really understand what it means to "balance" the budget and reduce the deficit.
I see alot of want to be economists running around thinking "hey we can reduce our borrowing and pay off our debt no problem"
hey these same people get excited about cutting over 1 trillion dollars in 10 years(100 billion a year).
When to even be serious, you need to cut more then 1 trillion a year. Every year you borrow is still a year you are living outside your means, no matter if the rate is 0% or close to 0%.