On Monday, The Heritage Foundation released its new Blueprint for Balance, a guide Congress can use both to reduce taxes and prioritize national defense. The Blueprint would balance the budget in 10 years, reduce spending by $10.8 trillion over 10 years, and reduce publicly held debt as a percentage of GDP to 61 percent.

“Recognizing that America will be strong only if she is on financially sound footing, our experts recommend important reforms to the biggest government programs in the budget, from Social Security to health care, to protect the most vulnerable, deliver better services at lower cost, and return control of personal decisions from the Washington bureaucracy to the American people,” said Heritage Foundation President Kay Coles James to The Washington Times.

Read: Blueprint for Balance: A Federal Budget for Fiscal Year 2020

Read more about the Blueprint on The Daily Signal.

With the total national debt exceeding $22 trillion, it is imperative that lawmakers control spending. In the coming weeks and months, Congress will be forced to confront both the debt limit and the future of the Budget Control Act discretionary spending caps. Read how the Blueprint for Balance can help lawmakers do this the right way: Skyrocketing Debt Too Important to Be Paired With Spending Deal

How do you think the national debt will impact 2020?

Comments (16)

PHILBROOK K COLLINS - May 24, 2019

America should NOT be a DEBTOR NATION !

Roger O’Daniel - May 24, 2019

Before we can forecast consequences of offer solutions, we must define the problem we are trying to solve. Fiat money is worthless. It only has value when we believe it faithfully represents a reliable substitute for barter exchange. Monetary and fiscal policy must be in balance for either to work.

David Arnold - May 24, 2019

Interest payments will increase, both because the debt is greater and the interest rate will probably increase slightly.

The Heritage plan sounds okay, but the truth of the matter says make hard decisions in 2020 and balance the budget! Why should we delay? If you were losing money in your business, would you plan to continue losses for the next ten years? ABSURD

William Coates - May 24, 2019

The impact can be severe, if our international adversaries decide to attack our internet financial data flow. Currency counterfeiting could also be a weak point. The debt will probably be ignored in 2020, because neither side wants to do anything about it.
The 22 trillion is unlikely ever to be repaid; it would take so long that some serious problem is more likely to occur, and it will have to be written off. That kind of problem would have global impact anyway.

J Nat Prince - May 25, 2019

Spending must be brought under control at all cost if we as a nation are to survive. To many of our citizens have huge credit card debts, that speaks to their attitude about our nation’s debt and ultimately the freebees being offered by the far left group of candidates. I refer to the wisdom of our forefathers and the constitution, that it will lead us the right direction.

Stephen Zimmerman - May 25, 2019

The national debt will have no impact. It will not enter into discussions even because our Congress only cares about their pay and their benefits. Term limits and the cessation of all benefits upon leaving office would be a good start.

LaShawn Smith - May 25, 2019

If we do not get our spending under control, the national debt will become a national security issue.

Sharon Kempfer - May 25, 2019

The huge national debt should be a concern for every American and each of us should be willing to sacrifice for the betterment of all. It seems we have arrived at this huge debt because no one wants cutbacks to affect them personally. Freedom was never easy or free and cutting our national debt will not be easy, but it is necessary.

Joe Splavec - May 25, 2019

The debt needs to be reduced.

The first step should be to eliminate illegal immgration. The nation cannot afford to support unlimited numbers of illegals anymore than the average family can afford to support ten children.

The next step is to increase income tax collections by directing efforts to people working for cash and not reporting the income.

These ideas are only a start in solving the growth of the debt. Bright people need to be hired to concentrate on getting the job done.

Linda Rosene PhD - May 25, 2019

The interest rate on $22 Trillion is WASTED dollars that instead, could be used to secure our borders, tackle USA infrastructure, rebuild our military to make America Great Again.

Forrest E Leighton - May 25, 2019

Do not cut Social Security How will many seniors live that are depending on Social Security. Just put a 5 percent gas tax on all gas purchases to reduce our debt. Also quit spending money foolishly.

Scott Girard - May 25, 2019

Just like every American needs to live within their means so should our states and our country. We need a Balanced budget amendment since our Congress has no desire to do so. Where is the national will to get this done. Americans need to be educated about the need for a Balanced budget on the national level. It seems that the Republicans have abdicated their responsibilities and let down the American people. Let’s only elect people who insist on a balanced budget or pass an amendment to make them do it.

Norma Pond - May 26, 2019

As in any situation such as home or business or country, high debt is destabilizing, and can be a killer. Some hard choices need be made in cutting spending in govt, and a balanced budget has to happen. Stop payments to foreign unfriendly countries, cut foreign aid even to friendly countries, stop payments to organized businesses such as planned parenthood, stop funding monies for welfare to anyone who has not lived in the USA at least 8 years, stop funding illegals, stop stupid research projects that are money pits. We must get ourselves stable if we are to survive

Caroline Woodis - May 26, 2019

Our National debt is a crime against ourselves. We should all be outraged that no one in authority has taken the bull by the horn and done something that will dramatically change the way we are handling money that the citizens have given to those in government who are responsible for handling the finances-and I believe there are many involved in those decisions. They MUST cut out all wasteful spending, duplicate spending, spending that is not bringing about positive results; have every department (and first cut the number of departments and the size of each one) slash their budgets and find new ways to get done what “needs” to be done and cut out the “wants”. In every family that is how each has historically functioned. When you run out of money, you stop spending more than you make. It is basic financial advice we each need. The government is too loose with other people’s money and don’t care if they are almost 23 trillion in debt. It is a joke to them. They take no responsibility for it. Time someone did—and fast. Be ruthless!! Get the job done. EVERY department must get on board. However it must be done!

Jane Tucker - May 26, 2019

increasing the debt limit is just a flimsy way to pile on the debt! Please deny any congresional increase in pay for members and actually start DECREASING salaries so that we can not continue to condone what amounts to lifetime employment.

Chris Milord - May 28, 2019

Congress and the Executive Branch need to look at ways to get a handle on the debt as well as deficit spending. It’s important to put a ceiling on the debt ceiling and not allow it to increase. One way to decrease the debt is to lower spending and streamline federal agencies so that revenue is used wisely. A growing economy can also put a dent in the debt by increasing revenue for essential programs. It’s crucial that the habit of raising the debt ceiling every year be halted in favor of minimizing wasteful spending. The ultimate goal after a few years would be to maintain economic growth, reduce spending, and achieve a federal balanced budget. Tackling the debt is critical in order to enhance our liberties as well as our economic and national security. It’s way past time to act on this critical issue.

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