Reference no: EM132700448

As it stands, America's debt is over 17 trillion dollars. Given the fears that this can have on America's economic future, there have been proposals on how to address this problem. One solution is to pursue spending reductions on "unnecessary" public programs, such as directly cutting the budget for these programs, reforming such programs, and simply removing these programs altogether. Another solution is to increase revenues, through measures such as increasing the tax rates on certain segments of the population and removing tax exemptions (or loopholes).

So what do you think is the proper solution to reducing America's debt? If you argue only spending reductions, what are some programs you think are "unnecessary" and why. Additionally, what would you do to those programs (reduce the budget, reform it, or remove it altogether)? On the other hand, if you argue only increasing tax revenues, what segments of the population would you increase taxes on and why, or what tax exemptions would you remove and why? If you argue a combination of both a reduction in spending and increase in tax revenues, then answer all the above questions.