How I Stabilized the U.S. Debt

More

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

Jump to comments
Presented by

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

Get Today's Top Stories in Your Inbox (preview)

Adventures in Legal Weed

Colorado is now well into its first year as the first state to legalize recreational marijuana. How's it going? James Hamblin visits Aspen.


Elsewhere on the web

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

Adventures in Legal Weed

Colorado is now well into its first year as the first state to legalize recreational marijuana. How's it going? James Hamblin visits Aspen.

Video

What Makes a Story Great?

The storytellers behind House of CardsandThis American Life reflect on the creative process.

Video

Tracing Sriracha's Origin to Thailand

Ever wonder how the wildly popular hot sauce got its name? It all started in Si Racha.

Video

Where Confiscated Wildlife Ends Up

A government facility outside of Denver houses more than a million products of the illegal wildlife trade, from tigers and bears to bald eagles.

Video

Is Wine Healthy?

James Hamblin prepares to impress his date with knowledge about the health benefits of wine.

Video

The World's Largest Balloon Festival

Nine days, more than 700 balloons, and a whole lot of hot air

Writers

Up
Down

More in Business

Just In