The deficit has increased exponentially as a result of: bail outs, unemployment extensions, and stimulus related tax cuts. The current deficit should be attacked directly through a debt reduction plan including a temporary across the board flat tax and donations. The GSA could develop a payoff plan going after the most expensive debt first. A list of debt and payoff costs could be provided for billionaires and corporations to adopt. A payoff thermometer should be used to show progress.
At the same time the administration and congress need to adopt a balanced budget incorporating both spending cuts and revenue increases.
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