Comment Re:One word summary. (Score 1) 1032
We're also fighting major wars overseas with historically low tax rates.
If we set the top marginal tax rate to like 40% instead of 35, and closed corporate tax loopholes and taxed HFT at like a fraction of a penny per trade and stopped fighting expensive wars, we could easily afford to do a lot of things.
The problem isn't the budget deficit itself, it's the amount we owe in interest and our obligations on our debt. If we can pay that off, then the deficit itself doesn't matter.