Much more than credit card debt
"Right now, America has $1.1 trillion of student debt. That’s more than credit card debt."
Warner adds by deducting
The U.S. would gain revenue by cutting personal income tax rates in half and ending tax breaks.
Only World War II era can compare
"Right now we are spending at an all-time high, close to 25 percent of our GDP [is] being spent on the federal government. But our revenues are at an almost all-time low of about 15 percent [of GDP]."
Fewer workers support more retirees
"There used to be 16 workers for every one person on Social Security. ... Now it’s three."
— PolitiFact Georgia
Changing the imbalance will cause pain
The U.S. loses more on tax breaks than it collects in personal income taxes.
The estimate, though accurate, varies from actual numbers
The national debt grew an estimated $15 billion last weekend.
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