conservatives, how are we going to pay off the national debt?

Question

I always hear conservatives complaining about democrats wanting to raise taxes, even the republican candidates say thats all democrats want to do, but when bush came into office the debt was 6 trillion dollars, and now its over 9 trillion, how can we take care of this without raising taxes? and why hasn't Bush done anything about this? Does he just want to pass it on to our children? Say what you want about Clinton but at least he left the country with a budget surplus and lowered the national debt. Bush has increased it by 50%

magiscoder Clinton had a surplus when he left office in 2000, you're giving the credit for that to reagan? who left office 12 years before, thats insane.

Answer 1

I am not conservative, but I will answer anyway.
We elect another smart Democrat like Bill Clinton to clean up the mess left by another departing Republican.

Answer 2

The tax cuts are causing industry to invest and expand and gain more net tax revenue as a result. If this continues the record debt will be nothing in about 10 years. At least, that's the hope. Two things must happen: US businesses must keep doing well, and we cannot keep incurring debts.

Raising taxes can help the problem too, but you encourage a recession and for the US economy to get weaker as a result.

Consider this: when you buy a house, you take out a mortgage. That's a huge debt, so much you can't pay it up front, but it's worth it in the long run. Maybe your house will go up in value (similar to business doing well) and in that case you'll make a profit when you sell the house.

Answer 3

I wouldn't worry about the national debt. Unlike a regular debt situation, the countries to whom we "owe" money cannot repossess anything without invading.

Honestly, if the decision were up to me I would simply state "what national debt?" and walk away.

Some people have responded "but then we would lose face with the international community and we couldn't borrow money from them again". erm...that's the point! Why borrow money from countries, some of whom are not our friends in the first place? On a personal level, that kind of person is called a "loan shark".

The national debt is no indicator of the economy, anyway. GDP, unemployment, import/export figures, currency exchange rates, interest rates, the producer price index are more important.

Answer 4

National debt is the largest tax ever! Every time a Republican Congress and/or Presiudent get in power, they cut taxes for the rich and raise the national debt. The national debt is a huge tax that grows daily because of interest. Plus, today the debt we owe is primarily due to China! They could bankrupt us if the wanted to!

Then a Democrat get in power because the general public finally wakes up and they have to raise taxes (Most which were lowered way to low) to pay back the deficit. Forget about getting anything else done that they could not get done when the GOP was in power. Then they are labeled as "Tax and Spend" It should be "Tax and Pay back the deficit and the Republican's huge mess they left".

Answer 5

bill clinton mismanaged the surplus left by the REAGAN TAX CUTS. and paying off the debt is no trick
muzzle nancy pelosi so the war can be finished
continue tax cuts so that businesscan function
eliminate foolhardy tax and spend schemes like trying to nationalize the health industry

Answer 6

Cut spending in all agencies except the Department of Defense by 10-20% Cut the salaries of all elected officials by 10% (hey, private companies have done this when they've faced bad economic times). Eliminate the Department of Education, and HUD.

Cut taxes even further (Bush's cuts have resulted in increased tax revenues at both the state and federal level).

Just a start. Most government agencies don't add much value. Government is far too big.

Answer 7

Their B.S. theory states that tax cuts stimulate the economy, thereby increasing revenues generated, thereby increasing the volume of taxes collected. However, it just doesn't work. See Reagan and both Bushes for proof.

They forget that disaster/accident reliefs, infrastructure upgrades/maintenance are required. Furthermore, more and more baby boomers are retiring, which is going to really hurt social security solvency. They just don't get that some government programs are really good if not necessary for our society. They use welfare as a catch phrase for why taxes are bad and then act dumb when bridges collapse or when hurricanes hit or when you ask why oil companies deserve corporate welfare.

They just don't care whose children pay for it, because they hope one of two things: a) no one will dare try to collect because we are the engine of global commerce, or b) my kids will be so rich by then or I'll be dead by then so I don't care if they end up paying a little bit more in taxes.

Answer 8

Uh, ever hear about that little thing called "9/11"? It hit the country hard, and we are fighting back hard. It costs money to do so.

BTW, the Debt is down this year. Not bad for a country still at war.

Answer 9

tax the hell out of the Americans since they support big government and that billion dollar war at the same time. That'll put a dent in their economy and make them think twice before rushing into things without thinking of the finances

Answer 10

Clinton's surplus meant that we made money during one particular year, not overall. I personally think he was just riding Regan's economic wave. Anyway, here's the answer to your question:

1) Lower taxes, especially for the rich and middle class
2) The rich invest in businesses, the middle class support those businesses by buying stuff.
3) Therefore, the economy is good, and the government ends up making more money with lower taxes because people are making more money.