The federal deficit is federal spending that exceeds income. The collection of years of deficits has made the federal debt. The deficit and debt are paid for by domestic and international borrowing. The lenders will eventually insist that they be paid; when that happens our currency and our economy will collapse. Our rulers should start paying the debt down to prevent a cataclysmic collapse. I won’t vote to pay off the debt with higher taxes.
Earmarks should, of course, be forbidden. The federal government should engage only in constitutionally authorized activities. As an example: the ownership of all federal lands (excepting Washington D.C. and military posts) should be sold back to the private sector. Our rulers should start paying the debt down to prevent a cataclysmic monetary and economic collapse. When paid off there will also be no cost of interest on a debt.
When the federal government stops activities that are not authorized and even forbidden by the U.S. Constitution there will be such a plethora of money that the federal debt will be easily paid off.
I believe a flat tax should replace the current tax structure which controls economic activity. In addition, the tax burden should be so lessened that it is negligible in influencing individuals' and corporations' decisions.
Constitution Party of Michigan - www.ConstitutionPartyMI.net