Post #5378 by bighairymike on the US Policy board

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The national debt is about $32.7 trillion. If we were to pay that off like a mortgage, over 30 years and assuming about an average 4% interest rate, we'd need to pay down about $1.87 trillion per year. The national deficit is currently about $1.6 trillion per year. So to keep the debt from rising, and pay it off over thirty years, we would need to raise federal taxes by about $3.47 trillion per year. - albaby

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Too bad it violates the laws of physics that reducing spending, even by a symbolic amount, cannot be part of a solution.

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