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Friday, April 8, 2016

Audit Shows U.S. Debt Unsustainable-Methods of Improvement

The nation could someday see 200% and 300% debt vs. Gross National Product that increases the risks of future financial insolvency. According to Gene Dodaro, the comptroller general for the Government Accountability Office, the nation is currently at 74% of GNP which is much higher than the post WWII average debt of 43%.

Actions must be taken to avert future financial crisis.

Its just too easy to spend the American tax payer's money and every expenditure seems so important. Attempts to curb spending often results in political fights that destroy trust in the government's ability to manage its own financial affairs.

Our future must be sustainable which means we will need to make decisions that are tough and likely unpopular. Yet these decisions are necessary in order to keep our country growing long into the future while averting a nose dive in financial health.

A few ideas on how to curb debt might include:

-Reward efficiency ideas through merit pay.
-Rehaul and rebid contracts to ensure the greatest value.
-Collaborate more with private business while retaining core functions within government.
-Overhaul laws and law enforcement to rebuild trust and create greater effectiveness.
-Invest and update military capabilities while retaining quality veterans in support functions.
-Focus on the fundamentals of the economy and the entrepreneurial capabilities of cities.
-Improve infrastructure to encourage enhanced movement of products and information.
-Reform taxes and encourage international investment.
-***share your idea on Twitter with the hashtag #nextpresident***

May reprint with attribution and link to http://www.academic-capital.net

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