Sure Cure for Debt Problem: Economic Growth

This article from 2011 is by Catherine Rampell, addressing how to reduce and control the national debt. Her answer is economic growth, which produces more revenue, and makes us less dependent on borrowing. Catherine is described as "a liberal opinion columnist", educated at Princeton. Despite that, she advocated the central message and goal of the American Opportunity Foundation, americanopportunity.org: economic growth.

What a shame the Obama administration didn't listen to Catherine and institute growth policies over the past six years. Read the article, and let's dedicate ourselves to doing the job right, while we have the opportunity. - Governor Jim Gilmore

Not so long ago, the National Debt Clock, perched above the Avenue of the Americas, a block east of Times Square, was running backward.

It seems remarkable now, with all the End Times talk of debt ceilings and default, but it was only 11 years ago that the owners of that electronic totem, the Durst family, simply pulled the plug. The clock, a fixture since 1989, went dark after the federal government ended its 2000 fiscal year with a record $236.4 billion budget surplus.

Today, well — you know. We face the largest budget deficit the nation has ever known: $1.6 trillion, the equivalent of about 11 percent of our economy. And, whatever Washington does, many economists say the situation will grow only worse, particularly as Americans age and Medicare costs spiral higher.

But there is, in theory, a happy solution to our debt troubles. It’s called economic growth. No need to raise taxes or cut programs. Just get the economy growing the way it used to.

 Read more at New York Times

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