PS427: Stabilize the National Debt Yourself

As we are talking about budget choices at both the state and federal levels, here is a nifty exercise in seeing what you care to cut to get the federal debt under control.

Ezra Klein writes about some of the issues here.

And more fun, the Committee for a Responsible Federal Budget has the budget simulation here.

See what it takes you to get to 60% of GDP.

Discuss: What choices did you make?

What political obstacles would arise in getting your choices passed by Congress?

Who do you think should pay for reducing the deficit? The rich through higher taxes, the poor through reduced services, the elderly through Medicare and Social Security cuts, the middle class by removing income tax deductions for homes and state taxes, the military by ending defense spending as we know it? You choose, but explain your choices.