There are two ways out of debt;
- Work your way out of debt
- Declare bankruptcy
When you are a government;
- Increase current tax rates then use the proceeds to retire debt
- Grow the taxable economy then use the proceeds to retire debt
- Devalue the currency causing inflation then use the devalued currency to retire debt [*a quasi-bankruptcy debt reduction]
Either you bite the bullet or kick the can down the road until you can no longer refinance the National Debt.
Department of Defense $560 Billion {-20%}
Tax Receipts $3.25 Billion {+3%} debt reduction surtax
That is a $200 - $220 Billion deficit repayment plan for a near $20 Trillion National Debt.
We are talking generations to pay this off
https://www.whitehouse.gov/omb/budget/Historicals
[in $millions*]
Department or other unit;2015
Legislative Branch;4,369
Judicial Branch;6,690
Department of Agriculture;25,029
Department of Commerce;8,584
Department of Defense--Military Programs;560,442
Department of Education;66,947
Department of Energy;27,388
Department of Health and Human Services;83,414
Department of Homeland Security;46,535
Department of Housing and Urban Development;30,384
Department of the Interior;12,173
Department of Justice;26,294
Department of Labor;11,946
Department of State;28,305
Department of Transportation;17,905
Department of the Treasury;12,215
Department of Veterans Affairs;65,100
Corps of Engineers--Civil Works;5,567
Other Defense Civil Programs;217
Environmental Protection Agency;8,140
Executive Office of the President;401
General Services Administration;-386
International Assistance Programs;23,927
National Aeronautics and Space Administration;18,010
National Science Foundation;7,344
Office of Personnel Management;243
Small Business Administration;887
Social Security Administration (On-Budget);4,686
Social Security Administration (Off-Budget);5,422
Other Independent Agencies (On-Budget);8,224
Other Independent Agencies (Off-Budget);259
Allowances;..........
Total discretionary budget authority;1,116,661