Any increased tax revenue should be used to defray existing debt. We already spend about $4 trillion a year. That’s about equal to Germany’s GDP.
While I do want to see the debt brought down, and ASAP, I try to look at this more like I would my own budget.
No, none of us can go upside down like this. What we can do is continue to pay a bit more each year for the cost of living.
A number of our expenses go up from year to year. The same thing happens for the federal government.
My observation on this thread was off. I double reduced the yearly two year to one year rate, causing the percentage growth per year to look too rosy.
Trump said he would start paying down the debt. I believe he intends to. He knows finances far better than I do, so I’ll give him space for now.
I want to see downward movement by the end of his first term.
We’ll see.