What would happen if we balanced the budget?

If our citizens understood the dangers we are facing with our wild, out-of-control spending and the enormous advantages of a balanced or near-balanced budget, we might get support for fiscal sanity in Washington.

We have no fiscal sanity today, and worse, the optimistic projections from the nonpartisan Congressional Budget Office show the situation getting much worse. Those projections do not provide for new programs, recessions, war, pandemic, or any other unforeseen costs, some of which will surely arise. The projections show us going from $39 trillion in interest-bearing debt today, or 125% of GDP, to $64 trillion, or 137% of GDP, in 10 years.