The US Deficit and ByeByeDebt

In my previous post, "From Rags to Riches", I mentioned the deficit and how the government could benefit by using a 403b plan. The current deficit, as far as I can find, is $1.3 trillion. Here is a shock as to how large that number is. It takes one million, $1 million payments to pay that off if interest were not a factor. If the government were able to save $1 million a month and used that as a way to pay off the debt that has accumulated, it would take over 83,000 years. Now, if the government could save $1 billion a month, that would be a much more attainable goal. It would still take 83 years but that is way better than 83,000 years :)

I'm not sure if the government has the ability to save $1 billion a month but if so, they should seriously start saving. I would love to help set up a budget for the government. One that I had complete control over. It's difficult to know how to do it without seeing where all the money is being spent and how much money is coming in. Clearly there is more money going out than there is coming in though. As I mentioned in my previous blog, if you owe more than you make then serious sacrifices have to be made to correct the problem. No one can live on credit, not even the government. Surely it's not so difficult that we as a country cannot create a budget and stick to it so that not even the change in hands between democrat/independent/republican parties could change it?

Recent elections talk about working together but that seems to be all talk. Each WANT different things. Each change of hands strips the other's progress and we, as a country, get no where financially. What needs to happen is for someone like me that doesn't care one way or the other which programs get cut to come in and create a budget that cannot be tampered with by either party. I would cut all things out that were not NEEDED. We would only have the programs the country NEEDED to keep us safe and healthy. The budget would be set up and followed religiously for 80-90 years (until we were completely out of debt). After the debt was gone, we could set up a new budget for getting things wanted by either party but the money spent doing that would not go outside our income EVER. In fact, $1 billion a month would be part of the budget and set aside as savings. Then the government would have the ability to help those hit by unforeseen circumstances like hurricanes, earthquakes, etc.

Maybe this is just a pipe dream but I believe we, as a country, could make it happen. It just takes discipline. If you are interested in where it began, take a look at this: zfacts.com.