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).
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