Autumn in New England
Ideal_Rock
- Joined
- Jan 20, 2012
- Messages
- 5,369
@Rockdiamond, Please know you’ve also gained a lot of respect from people here thru your posts.
Yep. I wish we could all go out for a beer!

@Rockdiamond, Please know you’ve also gained a lot of respect from people here thru your posts.
Very complex answer to the question. It actually wouldn't be good to eliminate all debt, in fact.
Start reading about the differences between gov't and individual debt to begin.
Generating revenue helps. It's not the pat answer. There are no pat answers.
Close all tax loopholes and increase taxes on the rich to post war II levels, for one. Cut military spending would help.
From the trusty AI:
Government debt, unlike personal debt, is the total amount a country's government owes to its creditors, while personal debt is the total amount an individual owes to their creditors. Governments can borrow to cover deficits, and their debt can affect interest rates, benefit programs, and potential tax increases, while personal debt impacts an individual's financial situation.
![]()
What the National Debt Means to You
The national debt level is what the United States federal government owes its creditors. The U.S. debt grows every year. How does national debt affect you?www.investopedia.com
![]()
5 Ways Governments Reduce National Debt
Governments have options to reduce national debt that include raising taxes and cutting spending. Both can help lower the deficit when they're used together.www.investopedia.com