How I Stabilized the U.S. Debt

Picture 10.png
The Committee for a Responsible Federal Budget designed a budget simulator. Awesome. Now everybody can stabilize U.S debt in the comfort of their homes.

The goal is to achieve a debt level less than 60% of GDP by 2018. You should try it. I did. Below you can read up about how I stabilized the U.S. debt by 2028 (sorry I can't find a better way to capture all the answers on one page without screen shots).

Some notes on my quick budget plan: the decision to curtail the state and local tax deduction and limit the mortgage deduction would be contingent on a recovery in the housing market and lower unemployment contributing to higher state taxes. This is one of the difficulties of designing a debt-busting plan in a recession. Some of the most valuable items would probably lead to you to double-dip if you passed them too quickly. I would also like to see a higher rate on the VAT and a carbon tax option.

Ultimately the real lesson you learn as you play is that stabilizing debt, even when the method is box-checking, is painful.


Picture 11.png
Picture 12.pngPicture 13.pngPicture 14.png

Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

The Blacksmith: A Short Film About Art Forged From Metal

"I'm exploiting the maximum of what you can ask a piece of metal to do."

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

Video

Carrot: A Pitch-Perfect Satire of Tech

"It's not just a vegetable. It's what a vegetable should be."

Video

An Ingenious 360-Degree Time-Lapse

Watch the world become a cartoonishly small playground

Video

The Benefits of Living Alone on a Mountain

"You really have to love solitary time by yourself."

Video

The Rise of the Cat Tattoo

How a Brooklyn tattoo artist popularized the "cattoo"

More in Business

Just In