to what degree are we as Americans willing to reduce our national debt?
I was having a political/economic/debt discussion w/ my disgruntled & slightly pessimistic uncle yesterday. He asked some good questions to which I couldn't fully answer, and I told him i'd post his q's on our forum for some addt'l feedback from the fellow monkeys out there.
#1: to what degree are we as Americans willing to reduce our national debt through austerity measures?, ie less entitlements, or is it too late - will we (personally & as a country) collapse from all of us having to much personal and national debt?
#2 Are we willing to give up our entitlement to pay higher taxes? i.e. We want all these benefits but are we willing to pay higher taxes for them - & how can we afford a higher level of benefits?