Given that our Federal debt is at 130% of GDP, without changing any other inputs, does that mean we lack ability to reduce the debt?

Any recommendations? Awareness has mostly been there, and we are fairly distracted recently with other issues. Taxation is always the first response, but does "fair taxation" even exist? Entitlements enter most debates, Defense spending as well. Every option has a downside for someone. Employment would be a good start, with minimal downside other than inflation down the road. Not much is easy even in good political times, and worse now.

CWO3 (Join to see) - Recommendations? None off-hand that would make everyone happy. People tend to rail against government spending in aggregate, but then they get mad when anyone threatens the spending that helps them ("cut their spending, not my spending"). Plus, everyone wants low taxes, but they don't seem to realize that taxes fund the spending that benefits them. You name it....spending on a strong defense, on education, on infrastructure, on scientific research, on providing healthcare to those in need, on a clean environment, etc. People want their taxes low and somebody else's spending cut. It will never work that way. So, politicians exploit that by cutting taxes and increasing spending to appease the voters, and debt is the result. Both sides do that, but in targeted ways that benefit their voters (alternative forms of vote-buying).

I think the only way out of it is a mix of spending cuts, tax increases, and economic growth. SS is fully funded through payroll taxes, and it has a trust fund to cover its expenses, so that's not a source of the debt. Medicare is similar, but it does depend on some general revenue, so I think we should index eligibility to life expectancy. When you look at all other spending, half of that is spent on defense. This isn't the best forum to bring it up, but defense spending has to be on the table, especially any major spending on weapon systems that serves as little more than jobs programs in politicians' home districts (and some of those do exist, especially when the DoD says they serve no strategic purpose and should be ended). On the tax side, the wealthy have had a nice, long run ever since the Reagan years. Their taxes have only dropped more and more, so some of those tax cuts should be reversed. The lower and middle class can't possibly be squeezed much more. Those steps would all lead to reduced spending and increased tax revenue, therefore lowering deficits each year (and slowing the growth in new debt). Then, economic growth would slowly suffocate that level of debt, much like keeping your personal debt steady while your wages grow over time. The debt would become much more manageable over time.

We'll never get there though because we don't have politicians with the guts to take those steps, and we don't have a society that would accept those steps. Everyone focuses inward, and the politicians exploit that. Just my $0.02.

Oh shit everybody, grab some cover, I actually agree with LTC Kevin B.!!! Something bad is bound to happen, dogs fornicating with cats, reverse hurricanes or something !!!

LT Brad McInnis - It happens. People might be surprised to see more of that, if they weren't so quick to paint me as being against them on all issues (just because I disagree on some issues).

Somebody needs to do something. A redefining of need to have vs. nice to have across the board, and employment would be a place to boost revenue. Problem is, the T symbol almost exceeds comprehension. Attitude seems to be as long as it doesn't happen on my watch, and I stay in office, whoever dies with the most toys wins.