Our Plan That Will Solve America’s $35 Trillion National Debt Problem

LET US BUILD A WORLD FOR OUR CHILDREN

Most yearly budgets, especially the yearly budget for our Federal Government, begin with a large amount of budget items that have already been committed to a long time ago.

In fact, there are often so many budget items that were committed to in advance that it forces the people planning the new budget to try to find items they are allowed to remove from the budget before they can even think about adding any new items that are important to America today.

With so many costs committed to by our politicians in advance, then it has become almost impossible to keep our Country from overspending and losing money every year.

This is the situation we currently see with our yearly national budget, and that is one of the reasons why we have been going further and further into debt every year, until now when we find ourselves $35 Trillion in debt, which is vastly more debt than America has ever had in our Country’s history.

In 2022, our national debt reached 129% of our GDP, which is also the highest in American history.

Continuing to have budget deficits is not sustainable, and if we do not begin to balance our budget and create surpluses in our budget that will allow us to pay off debt, then America is going to get into a situation where our economy collapses.

Such a large amount of debt now causes us to have to pay nearly $1 trillion of interest on the debt every year, which is more than double what our interest payments were even just a year ago.

If our government has been unable to balance our budget when we had minimal interest payments to pay on our debt, then how are they going to be able to balance the budget if they begin each year nearly $1 trillion in the hole because of the $1 trillion of interest payments that are due each year.

The current situation is so bad that our debt is now growing by $1 trillion every 100 days, which means that our debt is increasing by about $3.65 trillion every year.

Five years from now, 50% of all the tax revenue America collects will be required to pay only the interest on our national debt.

In ten years, 100% of all the tax revenue America collects will be required to pay only the interest on our national debt.

This is not sustainable because if all our tax revenue is being spent to only pay the interest on our debt, then there is going to be no money left to pay for anything that our government is required to pay every year. At this point, our entire economy would collapse because there would be no money to pay for anything that our Country needs.

Therefore, if we do not change our current economic course drastically and very quickly, then our entire economy and even our Country will completely collapse.

250 years of Building A World For Our Children will have been wasted and destroyed, and we will have nothing left to leave for our Children.

Our politicians should realize that we need to begin to balance our budget and pay off our debt, but instead the current administration has made a budget equal to $7.3 trillion for 2024, the largest budget in American history, with much of it being spent on unnecessary things.

We collect $4.4 trillion in tax revenue, the largest amount of tax collected in history, but because of uncontrolled spending by our government, we are still going to have a deficit of about $3 trillion.

Most of our politicians have never owned a business, and some have never even had regular jobs. Therefore, they do not understand the basic economics of running a budget.

The largest part of our debt has been caused by our politicians being far too reckless and careless in their spending for many years, especially in recent years.

The situation continues to get worse because our President and our Congress continue to ignore the crisis and do nothing to reduce our spending and balance our budget.

Instead of doing something positive for our Country, they just sit in their polarized bubbles and try to come up with more ways to criticize the other party.

Our political system does not have a law that requires our Federal Government to balance its budget, and so many of our politicians have tried to win votes by spending as much money as possible each year on things they think will buy them votes.

Therefore, a majority of politicians are selling out on you, on your children, and on America by overspending your tax money so they try to can stay in power.

Our Congress also hides what are called earmarks in their spending bills, which are unnecessary amounts of spending on items that are of personal interest to the Congressperson and to a small number of citizens who live in their districts and states.

These earmarks are again selfish overspending by our politicians so they can try to buy votes from their voters.

In addition, our politicians are not being held accountable for the money they spend, and they are not being held accountable for the debt they accumulate.

A huge amount of money is wasted Every Day and Every Year in America because no one in our government is paying close enough attention to the details of whether we are paying the correct prices for what we are purchasing and paying for.

For example, it was recently discovered that our government was paying $90,000 for a small bag of metal bushels that should only cost a few dollars.

Our politicians just vote on bills to spend hundreds of billions and trillions of dollars on ideas, and then they pay no attention to whether the money they have allocated is being spent efficiently.

In your own family, you have to balance your family budget, and in the businesses you have worked in or owned you have had to balance your business budget.

Therefore, as you will have found from your own experiences, the most important factor in balancing your budget is to pay very careful attention to every cost you are spending on.

For anyone to have any chance of balancing a budget, it is crucial to work hard by getting multiple quotes for every cost, and it is crucial to negotiate every cost to the lowest price that we can.

However, our government does not do this.

They only want to do the easy part of voting to spend the money. Then, they pay no attention to whether the money is being spent appropriately and efficiently.

As a result, our government is wasting hundreds of billions of dollars every year by paying too much for items, and by not negotiating prices like they should be doing.

They have no thoughts about balancing a budget, and they vote to spend money like they have an unlimited credit card that they can borrow unlimited amounts on.

We can begin to solve this problem by making our politicians balance the budget each year, because if you cannot borrow money then you care a whole lot more about getting everything you need with the money you have.

Therefore, requiring a balanced budget will cause politicians to want to negotiate prices to the lowest level.

We can further solve this problem by making politicians accountable for the finished product they have voted to spend your money on.

For example, if politicians vote to allocate money to build a bridge, then the politicians need to be held accountable for the bridge being built for the amount of money they allocated for it.

Currently, our politicians are not being held accountable for the finished product, and so our politicians just vote for the money to be spent on the bridge, and then they do not pay any attention to the bridge being built.

The result is that the bridge usually ends up costing far more than the money allocated, which results in additional money being spent on the bridge that our government did not allocate for, causing more debt to be accumulated by our Country.

The current structure of our Congress has our Congresspeople only doing the easy part of voting to spend the money.

But that is not the way the writers of our Constitution planned it.

Our founders planned for our Congresspeople to be closely involved with every project that was going on in their Districts and States by them being directly involved with all the federal money that is being spent in their Districts and States.

Some of our Congresspeople might tell us that they do not have the time to be closely involved with the money that is being spent in their Districts and States because they are spending so much time in Washington DC.

However, if we design a better schedule for our Congresspeople that does not require being in Washington DC nearly every week, then they will have enough time to focus on making certain of the finished products.

The current schedule that keeps them in Washington DC nearly every week is not necessary, and often results in a waste of their time fighting among themselves and criticizing the politicians from the other party, and a waste time trying to gain media attention for themselves that they think will help them to get re-elected.

We do not have time for this kind of Congressional schedule anymore.

We are in a crisis, and so we do not have time to waste on polarization.

We need to get to work with an all-hands-on-deck mentality of working together.

And that means that our Congress needs to get back to the basics that our founders designed Congress’s role to be, which is voting for federal spending within a balanced budget, and then being accountable in their Districts and States for this spending by staying on top of the construction and products.

Making sure that the spending they voted for achieves America’s desired outcome.

For America to balance our budget and pay off our debt, then it is crucial that our Congress gets back to basics and does this very valuable work that we need for them to do.

Many politicians have been so reckless in their spending through the years that we have been put into a situation where we owe so much debt, and the interest payments on the debt are so high, that we are not going to be able to get out of this very dangerous situation without changing our policies and getting rid of our bad habits.

Just looking at the situation logically, since our politicians have not balanced our yearly budget in the past, then how are they ever going to be able to balance the budget now that they have to start each year’s budget $900 Billion in the hole because of the extra $900 Billion of interest payments we currently have to pay every year on our debt?

If our politicians could not balance the budget without the extra nearly $1 trillion of yearly interest costs, then how are they ever going to be able to balance the budget now when they must start each year’s budget $1 trillion in the hole because of the $1 trillion of interest they owe every year?

This situation has been made worse because hardly any of our politicians have ever owned their own business or had to balance their own business budget. Most of our politicians have no experience in business, and so they continue to make overspending financial mistakes that they should not be making.

Throughout my many careers that include more than 30 years of owning businesses, I have taken over many companies, sports teams, and television stations that were in huge financial difficulties, just like we now see with America’s debt problem.

In every instance, the method I used to turn all of these businesses around from nearly being out of business when I purchased them, to every one of them making a very successful profit, was to reduce the spending to as low a level as I needed to go to reach a breakeven point.

When you drastically reduce your budget to a breakeven level, then you find stable ground beneath you because you are no longer losing money. You have balanced your budget.

Now that you have stopped the negative cashflow, then you begin to work very hard to find ways to create and generate additional revenue you were not making before that will put you into a profit.

As you generate this profit, then you raise your spending selectively and gradually on the items that are most important to your business so that you can continue to meet your higher breakeven point.

You continue to follow this method until you reach a level of revenue that allows you to meet all the spending needs that your business requires to be very successful.

Then, from this point on, all additional revenue you are able to create and generate becomes your profit.

I have been very successful with this process so many times that I would immediately be able to achieve this with America’s federal budget and national debt.

At the beginning of this turnaround process, when you are initially and drastically cutting your spending so you can reach your initial breakeven level, you want to use what is called Zero-Based Budgeting.

With Zero-Based budgeting you start with no items in your budget at all, and you carefully evaluate every single potential item you might want to purchase to decide whether you want to include that item in your budget.

No item or cost is allowed to sneak through or be rubberstamped.

Wasteful political earmarks by Congress are stopped by doing this method, also.

Zero-Based Budgeting allows you the greatest opportunity to create a turnaround situation where you can take an organization that is in great difficulties and turn it around into a huge success.

This is the same philosophy as my Dad, who was a tremendous businessman, used to always tell me about overcoming a situation where a Person, a Family, or a Business is losing money.

My Dad would say that the first thing you have to do is to stop the bleeding.

Which means that before you do anything else, and before you make any complex plans about how to try to increase revenues, you first have to do whatever it takes to stop from losing any more money.

Our President and Congress do not understand this philosophy because they do not have any business experience, and so they do it the exact opposite way from how they should do it.

They commit our taxpayer money to all the wild overspending they want to do, and then they hope they can raise enough revenue to pay for their wild overspending.

However, this does not ever work, which is why our government has not had a balanced budget for the past 23 years in a row.

The IMP, International Monetary Fund, that oversees the entire global economy, sent a warning to our White House recently, saying that America could not continue to have the high budget deficits that we are currently having.

However, our White House refuses to acknowledge their overspending, and they are even not being honest about their spending because our current President manipulates words to hide the fact that his administration has already had the highest total amount of budget deficit of any 4-year Presidential term in American history, and higher than almost any eight-year term already.

They make false claims that if they raise taxes on the rich, then they will bring in enough money to pay for all their overspending.

But what they do not tell us, and are not even truthful to us about, is that our wealthy taxpayers already pay a far higher amount of America’s taxes than any other country in the world.

The top 1% of income earners in America pay 46% of all the taxes collected in America every year, the top 10% of income earners in America already pay 76% of all the taxes collected in America every year, and the top 40% of all the income earners pay 100% of all the net taxes collected in America every year.

This means that America is already not collecting any net taxes from 60% of our American citizens.

In contrast, in 1945 when our current income tax structure was designed, 90% of all Americans paid income taxes.

Therefore, our President and our government are making false statements when they try to blame our national debt on the wealthy “for not paying their fair share.”

In these less than honest statements, politicians never say what a fair share is because if they ever had to speak actual mathematical numbers, then every person in America would know that our wealthy taxpayers are already paying far more than their fair share of taxes.

These politicians also fail to mention that currently all our American taxpayers are paying an average of $15,098 per person every year in taxes, which is double the amount per person that taxpayers were paying 40 years ago, even after taking all the inflation into account.

Therefore, America’s problem is not the amount of tax revenue being collected. Instead, our problem is the amount of money being spent by our overspending politicians.

Our President and other politicians who spread these false statements also fail to mention that every time they raise taxes on our wealthy citizens, then this slows our economy because it is the wealthy citizens who very often start new businesses and hire new employees.

When our economy slows, then this results in lower amounts of taxes being collected than the politicians projected, and so the politicians end up with another budget deficit and increased national debt because they overspent on everything and more that they put into their spending list, but they did not bring in enough tax revenue to pay for their overspending.

However, instead of these politicians admitting that their overspending plan did not work, they will just incorrectly double down even more and say that they just need to raise the taxes again on our wealthy taxpayers because “they are not paying their fair share.”

Our current White House administration is a reminder of what British Prime Minister Margaret Thatcher said when she stated, “Socialist governments traditionally do make a financial mess. They always run out of other people’s money.”

This is what our current politicians are doing. They are trying to take more and more American taxpayer money until there is not going to be any money left to take.

Our White House has made promises for the past three years that they will not raise taxes on anyone earning less than $400,000 per year.

However, economists have shown that the new tax plan our White House administration has put forward will raise taxes considerably on Americans who earn between $75,000 per year and $400,000 per year.

The reason our politicians are raising taxes across the board on nearly everyone is because they have no plan, and they have no concept of how to fix our budget deficit and national debt problems.

The mathematical facts are that all our American billionaires combined have a total of $5.2 trillion of wealth in money, ownership of company shares, real estate, etc.

Therefore, even if our politicians took all the money away from every billionaire so they had nothing left, then all the billionaires’ total money combined would still only cover one or two years of budget deficits.

And then America would be in even worse shape than we are now because all the companies that the billionaires owned would be gone and there would be hundreds of thousands of American citizens unemployed.

Our current politicians do not even try to learn from history, because in America during the 1960’s some other incorrect politicians tried to do the same thing that our current incorrect politicians are doing now, when they raised taxes all the way up to a 90% tax on America’s wealthiest taxpayers.

This 90% tax did not even work because such high taxes caused the wealthiest taxpayers to be unable to, or unwilling to, start new businesses and hire people. Therefore, the American economy slowed down so much that even with a 90% tax on the wealthy, the government only brought in the same amount of tax revenue as they had before the taxes were raised.

However, even though no more tax revenue was being brought in, the American economy was in worse shape than it was before the tax increases because the slowing of the economy led to a reduction in GDP, a lowering of the wages that everyone earned, and a large increase in unemployment.

Our current politicians are operating so far outside of reality that they have no capabilities to see or know what they should do to fix our budget deficit and national debt crisis.

The thinking of our current White House has moved very far away from the Great Presidents we have had in the past.

I love two quotes from one of my all-time favorite Presidents, Bill Clinton, who was our last President to balance our national budget.

President Clinton said, “People ask me all the time how we delivered four surplus budgets. What new ideas did we bring? I always give a one-word answer: arithmetic.”

President Clinton also said, “Now, I don’t have all the answers, but I do know the old ways don’t work… A government that is leaner, not meaner; a government that expands opportunity, not bureaucracy; a

government that understands that jobs must come from growth in a vibrant and vital system of enterprise.”

Both of these quotes from President Clinton show that our current White House administration is not in any way following the very successful work and the very successful philosophies of President Clinton.

One of my other favorite Presidents, Ronald Reagan, said, “Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”

President Reagan also said, “The most terrifying words in the English language are: I’m from the government and I’m here to help.”

Therefore, President Clinton and President Reagan were from different political parties, but they were both very successful with the economy because they both followed very similar philosophies.

In contrast, our current White House administration is far closer to pushing for socialism than they are to following in President Clinton’s footsteps.

As a result of our current White House and Congress overspending, our national debt is now in a crisis situation.

If we do not do something very quickly, then our national debt is going to become so large that it will be impossible for us to pay the interest on it. At that point, America will go into an economic collapse similar to what we have seen happen to other countries throughout history.

For example, Greece went into an economic collapse in 2009 that included their economic output falling by 25% and their unemployment rate rising to 27%.

Similarly, Venezuela went into an economic collapse when their country entered hyperinflation in 2016 and their inflation rate was 274% in 2016, 863% in 2017, 130,000% in 2018, and 9,586% in 2019.

Likewise, Argentina went into an economic collapse last year when their inflation rate went to 211% in 2023.

As Americans, we do not think that an economic collapse can happen to us, but the people of Greece, Venezuela, and Argentina thought it could not happen to them either.

No one thinks it is going to happen to them until it happens.

Therefore, we need to have a sense of complete urgency in our present situation before our debt situation gets even worse.

Unfortunately, though, most of our current politicians have just stuck their heads in the sand and have decided not to look at America’s $35 Trillion of debt. As a result, these politicians are making the additional mistake of thinking that out of sight is out of mind.

Since our Goal is to Build A World For Our Children, then we owe it to our children to not leave them with trillions of dollars of debt and an economic collapse.

Therefore, we need to formulate a Plan immediately, and we need to execute our Plan with maximum effort and with a sense of complete urgency.

As we move forward to do this, we know that some people enjoy the challenge of being in a crisis, and some people perform their best when the situation is at its toughest and the game is on the line.

Because of all my years in sports as an athlete and as a coach, then that is the way I am.

I greatly enjoy those “backs against the wall” crisis situations more than any other because throughout my life and my career I have always looked for these challenges.

My greatest skill has always been to take something that has collapsed, or almost collapsed, and turn it around into a Success by getting our backs against the wall as one unified team.

This Always involves coming up with a Great Plan, Always speaking in Positive and Encouraging Thoughts to Everyone, Always staying Positive and BELIEVING, and then fighting our way out together by outworking everyone else.

I have spent several of my careers taking on these turnaround challenges with sports teams, schools, colleges, and business organizations that were in great difficulties, and I have always been very successful in turning them around.

For example, in sports I was the quarterback of my high school team where we had our school’s first-ever winning season and first Championship, was the free safety on Furman University’s first two outright Championships in school history, was the player/head coach on a professional football team that was in last place before I came and led them to an all-time record 14-0 in my first season, leading my team in our first three seasons to three Division Championships, three Conference Championships, three Regular Season Championships, two National Championships, and the European Championship, was the Great Britain National Team head coach and led Great Britain to its first-ever European Championship in my first year after the Great Britain national team had never won a single game in Europe, took a professional English soccer team that I was the first American to ever own and manage, and helped to lead them to the Semi-Final of the National FA Trophy, to the third-round in the FA Cup twice, and to their first Cup Championship in 40 years, was the head coach of a high school baseball team that had only won a maximum of one game per year for the previous five years and in my first season set all-time school records with 11 wins and 7 wins in a row, was the head coach of a high school football team that had only 2 returning players on their roster and had not had a winning season for many years, and led them to their best-ever record in the conference alignment, took over as the college professor and head of two departments in the School of Business where I redesigned the entire curriculum, re-created the Sport Management major, created ten new courses, created the Sport Management Minor and the Coaching Minor, and created a department that went on to develop hundreds of young people into outstanding business, coaching, and sport management executives, was the director of a high school academic program that had only 22 students in the program and within less than a year grew it to 900 students, partnering with 150 businesses and 15 colleges and universities that provided academic scholarships to our students, resulting in us being chosen as one of the 10 Super Schools in the United States, raised $2.3 Million in private grants that allowed us to rebuild the school with seven new rooms including a presentation auditorium with power screens, a television studio, an outdoor theater, a technology center, a study area, an outdoor classroom, and a career technology

makerspace, and was chosen as one of only four public school educators in the entire United States to be invited to Washington DC in 2018 to speak with Congress on Capitol Hill about our innovative educational approaches and to provide advice to Congress about the future of American education.

On the business side, I took over an American Football team in Europe that was in last place and was in great financial difficulties, and turned them around to Regular Season Champions the first year, National Champions the second year, and European Champions in the third year, I took a professional English soccer team that was in bankruptcy and ready to close, and within five months got them out of debt for the first time in 100 years and helped them to win their first Cup Championship in 40 years, I took over a television station with only a $10,000 deposit since it was closing down because of financial difficulties, and built it from being on only one cable network in only two counties to being on 16 cable networks in six states across the Southeast, building it up so we produced more of our own television programming than any television station in the United States, including creating 350 Military Veterans Shows that became the largest compilation of personally told World War II history anywhere in the World and is archived in libraries and war museums across the United States, and I took over a thoroughbred race horse farm that was struggling financially, and in two years we were the most successful racehorse farm in the Country as we had horses that won the 2020 Belmont Stakes, won the 2021 Kentucky Derby, won the 2020 Travers Stakes, won the 2020 Florida Derby, won the 2019 Champagne Stakes, finished second in the 2020 Kentucky Derby, won the 2021 Shared Belief Stakes, won the 2021 Awesome Again Stakes, finished third in the 2021 Preakness Stakes, and finished second in the world champion 2021 Breeders’ Cup Classic.

Therefore, I have spent a lifetime and many careers turning-around sports teams into Champions, turning around schools and colleges into the top schools in the United States, and turning-around businesses into tremendous financial successes.

I can do the same thing for America.

There has never been a President in the history of the United States who has had as much experience and success in as many career fields as I have had, including in education as a teacher, in education as a college professor, in education as a school administrator, in college education as an administrator, in sports playing, in sports coaching, in television station management and ownership, in professional sports team ownership, and in business ownership and management in many different industries.

All of my extensive career experiences give me a huge advantage over any previous President in America’s history.

I will turn America’s situation around to where we once again are the Home of the American Dream for every person in our Country. Just like we used to be in America.

In conclusion, America is currently in a very bad position financially.

We need to save our Country by taking drastic action that will create a Turnaround for America, just like all the successful turnarounds I have spent a lifetime achieving everywhere I have been.

To Create this Turnaround, I have formulated a complete Financial Plan that I have written about in detail on a separate page on this website titled, The Elimination of Federal Income Tax – Your Financial Investment In America Will Make You An Owner Of America.

My Plan has never been designed by anyone before, and it will soon result in the future elimination of all income taxes in America.

When we are Successful with my Plan, then you will never have to pay federal income tax again because my Plan will generate the revenue on its own to pay for and to fund our Federal Government every year.

This will allow us to leave a Debt-Free America for our Children, and so we will have accomplished what we set out to do, which is to Let Us Build A World For Our Children.

My Financial Plan will not only balance our budget on a yearly basis, but it will also pay off our entire $35 trillion of debt so that America is completely out of debt for the first time since 1835 when Andrew Jackson from Tennessee was President.

I am from Tennessee where President Andrew Jackson is from and where Vice-President Al Gore is from.

I also grew up in Arkansas where President Bill Clinton is from.

President Jackson is the last President to completely pay off our national debt in 1835, and President Clinton and Vice-President Gore are the last administration to balance our budget, which they did four years in a row.

All of these men from Tennessee and Arkansas did a tremendous job balancing and paying off our national debt, and I will be the fourth man from Tennessee and Arkansas to do this.

In addition, my Plan is a Revolutionary Plan that will have every American owning shares of America, so that instead of you being a taxpayer who has no voice in how your taxpayer money is being spent, You and Your family will become owners of America who are investors in America.

My Plan restores the American Dream for You and for Your Family, and together we will Raise The Tide for Every Person in America and for America.

In the process, we will have accomplished our Goal because we will have Built A World For Our Children.

You can read the details of my entire American Financial Plan on this website on the pages titled The Elimination of Federal Income Tax – Your Financial Investment In America Will Make You An Owner Of America.

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