Get a Handle on the National Debt

If you believe that exploding deficits are a problem and the national debt is out of control, then the solution is to become informed and take control of the problem. How do we, as a society, go about that process? While virtually everyone has an opinion on the debt and its level of gravity, most would concur that there are some very basic steps the United States can take to address the rising deficits and debt. How these strategies are developed and employed can be varied, blended, and adjusted, but each will help give the United States a more sound financial footing. This chapter addresses the following topics:

The basic formula to curb deficits

Balancing the budget

Eliminating pork projects

Empowering states

Using the debt ceiling as a tool

Reforming entitlement programs

Long-term planning