The 5 Debate Topics that should have been debated

1) On Debt & Deficits                     (1 of 5)

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1) On Debt & Deficits                     (1 of 5)

 

The Question: “The federal deficits during the Great Recession were trillions of dollars, and have currently reduced to around half-trillion. However, the Congressional Budget Office has estimated that the debate will grow to around $8 trillion over the next 10 years! How will you address the mountain of debt that will threaten the pocketbooks and wallets of taxpayers?”

The federal budget has improved recently, but such a recovery occurs only once. The financial crisis led to millions of jobs being lost and helped generate billions of dollars in tax revenue. However, it didn’t do anything to address the pressing issue: tax revenues aren’t growing as fast as federal benefit programs for retirees.

Coming out with solutions like trimming down fraud, abuse and waste, or pay for themselves isn’t going to make a difference in the federal deficit. In order to bring down federal deficit a number of mix reforms to Medicaid, Medicare, and Social Security have to be looked at. Coming out with a long-term solution will mean adopting revenue increases and spending cuts simultaneously.


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