Ideas for Balancing the Budget

This country has a $1.3 trillion deficit and a $13.8 trillion national debt. Much of this debt occurred during the Bush years as a result of the wars in Iraq and Afghanistan, tax breaks for the wealthy, a Medicare prescription drug bill and the Wall Street bailout—all unpaid for. Meanwhile, over the last several decades, income inequality in this country has grown dramatically. In 2007, the top 1 percent of income earners made 23.5 percent of all income, more than the bottom 50 percent combined. From 1980 to 2005, four-fifths of all new income has gone to the top 1 percent while many people in the middle class have seen a decline in their incomes.  Now, in order to move us toward a balanced budget, there are some people who are suggesting that we cut Social Security, Medicare and Medicaid, eliminate the home mortgage interest deduction and the child tax credit, increase interest rates on student loans, increase the gas tax, and increase co-pays for veterans receiving health care through the V.A.  "I think there's a better way," said Sen. Bernie Sanders.  Sanders asked Vermonters for their ideas for confronting our huge deficit and national debt. "As Vermonters, I would like to see us engage in a serious conversation on this issue," he said.  Sanders asked that constituents watch a video and submit short essays that explain their ideas for fair and responsible ways to approach these challenges. If you have some ideas you would like to share and you are a Vermonter, you can visit this Facebook discussion here.