The debt: This is not a party problem, this is a national problem. It is most likely more complicated, but the simple arithmetic is this:
The most recent surpluses were 1960, 1969, 1998, 1999, 2000, 2001.
Our best surplus year (which was under Clinton) was the year 2000: $236 billion.
If we were to get to a surplus of $236 billion [in 2013], and then had a surplus of $236 billion from here on out, and apply those surpluses to the debt, it would take 67 years to bring the debt to zero.
That is the year 2079. Read More»