Rescheduled for Feb 25th. Public Issues Forum : The $9 Trillion Debt: Breaking the Habit of Deficit Spending

The bad habit of deficit spending is more apparent than ever, and pressures on the federal budget will soon get worse. It is not enough to support deficit reduction in principle. The challenge is to see what changes most Americans are willing to accept as the best way out of a difficult situation.

This issue book presents three possible approaches for dealing with this problem:

Approach #1- They Can't Say No: Curtail Endless Spending

The chief source of the nation's budgetary woes is endless spending by elected officials. The federal government is too big and too costly. Hard choices need to be made about what is essential for government to do, what is optional, and what this nation cannot afford.

Approach #2- Unfunded Liabilities: Trim Social Security and Medicare

The nation's promises to senior citizens represent huge and only partially funded liabilities. Unless substantial changes are made in Social Security and Medicare-- two of the most costly government programs-- the budget gap will get far larger.

Approach #3- The Revenue Solution: Raise Taxes

For years, elected officials have sustained the illusion that taxes could be lowered while public programs and services are expanded. It is time to be honest with ourselves about the cost of what we expect from the federal government and agree about the need to raise additional federal revenue.