Progressive Views: The Debt Crisis is Real

The United States is playing Russian Roulette with our debt and our fiscal future. The current national debt is a whopping $32 trillion, almost 100% of Gross Domestic Product (GDP). We must raise revenue from 19% to 21% of GDP by eliminating most deductions, exclusions, preferences, and credits. We must bring spending down (currently 23% of GDP) to revenue over the next 10 years by freezing domestic and defense spending, reforming healthcare, and putting Social Security on a solid footing by reducing benefits to the top 25% of earners.

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