By Steve Brawner, © 2018 by Steve Brawner Communications, Inc.
At the University of Arkansas at Fort Smith Friday, more than 220 college students, including sophomore Garrett Spain from Greenwood, tried to do what Congress is unwilling to do – get the government’s debt under control.
The students gathered at two dozen tables, each with a laptop, and worked together using the Committee for a Responsible Federal Budget’s (CRFB) Debt Fixer tool. That’s an online resource that lets users see how the federal budget would be affected by selecting various spending cuts and tax increases.
The goal of Friday’s exercise was not to pay down the $21.6 trillion national debt. Instead, it was to get the red ink under control. The $15.8 trillion public debt (what the government owes everyone but itself) is 77 percent of the gross domestic product and growing rapidly. By 2028, it is projected to be 97 percent, meaning it will be the same size as the economy. The goal for the students was to stabilize it at 70 percent by 2028, and 40 percent by 2050. Continue reading Fort Smith college students Fix the Debt