Here’s How Much Federal Spending Must Be Cut to Balance the Budget

It’s been more than twenty years since we last had a balanced federal budget during the tenure of former House Speaker Newt Gingrich (R-Ga.). Will we ever see a balanced budget again?

It’s theoretically possible, but it would take tremendous cuts in spending.

According to an analysis from the Committee for a Responsible Federal Budget, “In order to achieve balance within a decade, all spending would need to be cut by roughly one-quarter… the necessary cuts would grow to 85 percent if defense, veterans, Social Security, and Medicare spending were off the table.” – READ MORE

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