[quote=no_such_reality][quote=SK in CV]
It is the other spending, primarily defense, that has to be cut. The two wars we’re fighting have already consumed almost 10% of the national debt, over $1 trillion. Current defense budget is close to $700 billion. That’s where the cuts will have to come from if the budget is ever to be balanced.[/quote]
Just to nitpick in case you’re a product of LAUSD, you could cut 100% of the defense budget and you still have another 1/2 trillion to go to balance the budget.
Balancing the budget is nothing to do with actually getting rid of the debt.[/quote]
Umm…yes, it has everything to do with getting rid of the debt. The only way to get rid of the debt is to have a budget surplus. You can’t have a surplus until the budget deficit is removed.
And yes, you’re right there’s still another 1/2 a trillion to go if defense spending goes to zero. (A suggestion that no one has made.) Put America back to work and more than 80% of that half a trillion goes away. The recession, due to decreased revenues, has added around $400 billion to the deficit each of the last 2 years.