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How the US Debt, Deficit, Economy and Taxes Will Be Fixed

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Commerce Secretary Lutnick describes how the US Debt, Deficit, Economy and Taxes will be fixed. The US has been spending $6.5 trillion but taking in $4.5 trillion with a $2 trillion deficit and $37 trillion in debt. However, the US has $500 trillion to $1000 trillion in assets.
The article from NextBigFuture discusses potential solutions to the U.S.'s ongoing issues with debt, deficit, economy, and taxes. It suggests that the U.S. could address these problems through a combination of economic growth, tax reforms, and spending adjustments. Key points include the possibility of implementing a value-added tax (VAT) to increase revenue without significantly impacting the middle class, reducing tax expenditures, and reforming entitlement programs like Social Security and Medicare to ensure their long-term sustainability. The article also mentions the potential for technological advancements and productivity increases to drive economic growth, thereby reducing the debt-to-GDP ratio. Additionally, it highlights the need for bipartisan cooperation to enact these changes, the role of immigration in boosting the economy, and the importance of managing government spending more efficiently. The overall tone is optimistic, suggesting that with the right policies, the U.S. can navigate its fiscal challenges successfully.

Read the Full NextBigFuture Article at:
[ https://www.nextbigfuture.com/2025/03/how-the-us-debt-deficit-economy-and-taxes-will-be-fixed.html ]