Barack Obama Is On Track to Reduce The US Debt

by Chris Garrah - September 23, 2012

Reducing The US Debt - One Man's Opinion

I think perhaps all American politicians recognize that reducing the debt of the nation is key to helping their economy.  I believe that American pundits have it right that there is hope to solve the debt problem.

ENCOURAGING SIGNS THAT BOTH PARTIES WILL WORK TOGETHER  

 I think that these are encouraging signs that the American debt can be reduced if President Obama is re-elected.   

1. Some of the American wealthy are on board with the idea that the wealthiest Americans are investing and creating jobs in the current economy.   Warren Buffet and others recognize that the wealthiest can pay as much as the poorest Americans.  Because of this the Democrats would not have to reduce income taxes for the wealthy - which would not reduce the debt or create jobs.   More targeted stimulus such as that of a Republican who said incentives to a smalll business to add one more employee would drive the unemployment rate down to 5%.

2.    Several factors suggest the US can spend less on the military.  1)The American military has evolved over the years so that  one ship can be a greater fighting force than several in the past.  2)Also, the American military currently spends several multiples of the amount of China.  3)  President Obama's reluctance to enter any war without involving the United Nations .    4)  The US is poised to withdraw troops from Afghanistan  These four trends suggest the US may be able to reduce military spending and still achieve their goals.

3.  In theory filibuster laws could be reformed so it would be less likely that the opposing party can jam up the works and that the party in power could attempt to retire the debt.

Reform Is Possible To Prevent Other Countries Benefitting From A Large American Debt  

4.  As Jesse Ventura suggested the Constitution could be amended so that major contributors to political parties would have to reveal their identity.  I believe Jesse Ventura was suggesting that China could set up an American company and make political contributions and influence the election that way.   

WHOEVER WINS HAS THEIR EYE ON THE DEBT

For the above reasons I believe that Americans should have hope that their economy will improve and the deficit and debt problems will diminish.  Unfortunately, the amount of suffering will, I guess, depend on the arithmetic.   Let us hope the problems are solved and that Americans prosper.