Paying down our national debt

Here is a simple, clear way of reducing our crushing federal debt:

Our suggestion for starting
to deal with the deficits and debt at both national and state levels is
our modest 5 + 10 + 15 = -5% program which simply means a 5% reduction
in entitlement payments plus a 10% reduction in government employment
plus a 15% reduction in all other government spending will produce
enough funds to start a 5% debt repayment program. 

It comes from a blog called TheFundamentals, run by Norman J. Kost. His proposal--called 5 + 10 +15 = -5%--would have a tremendous positive benefit on our economy, although it would take courage on the part of the electorate and the elected to withstand the assaults from the vested interests. Agree with it or not, Kost's proposal is the kind of creative, serious and bold thinking that is required to pull us out of this mess.

Comments

Leave a comment
  • Can you say FLAT TAX........

Leave a comment

  • ChicagoNow is full of win

    Welcome to ChicagoNow.

    Meet our bloggers,
    post comments, or
    pitch your blog idea.

  • Advertisement:
  • Fresh Chicago News

  • Subscribe to The Barbershop

    Enter your email address:

    Delivered by FeedBurner

  • Dennis Byrne’s Facebook Fan Page

  • Like me on Facebook

  • google-site-verification: googlefdc32e3d5108044f.html
  • Meet The Blogger

    Dennis Byrne

    Chicago Tribune contributing op-ed columnist and author of forthcoming historical novel, "Madness: The War of 1812." Reporter, editor and columnist for Chicago Sun-Times and Chicago Daily News. Freelance writer and editor.

  • Our National Debt

  • Twitter

  • Categories

  • Tags

  • Recent Comments

  • Monthly Archives

  • /Users/dennisby/Desktop/trailer.mp4
  • Latest on ChicagoNow

  • Advertisement: