1. National Debt
See Budget Below is a revised draft that incorporates the idea of meeting future challenges through current taxation rather than passing debt on to future generations:
National Debt and Fiscal Responsibility
We are committed to balancing the federal budget and using any surplus to bring the national debt within a manageable range—between 66% and 100% of GDP. We recognize that our nation faces big challenges—from climate change to infrastructure modernization to public health—requiring significant investments. However, we believe these costs must be covered by fair and targeted taxation, not left for future generations to shoulder.
To achieve this, we will institute new, equitable taxes—including a wealth tax and a carbon tax—to ensure that those who benefit most and those whose activities contribute to environmental challenges pay their fair share. A wealth tax helps maintain an equitable economic environment, while a carbon tax simultaneously addresses urgent environmental goals and spurs innovation in clean technologies.
In addition to our new tax initiatives, we will foster a welcoming job market by strengthening worker protections, improving compensation, and expanding access to education and training. By encouraging broad workforce participation and boosting productivity, we increase tax revenues naturally, creating sustainable support for the programs needed to tackle today’s challenges.
While reducing the debt is crucial, we also acknowledge that moderate levels of debt can be economically beneficial. Government bonds provide stable investment opportunities, finance key infrastructure, and offer flexibility during unforeseen crises. Yet, when debt becomes too large, interest payments balloon—draining resources that could otherwise fund public services and research. By keeping debt at prudent levels and responsibly financing major initiatives with current revenues, we preserve our fiscal health and protect future generations from inheriting an unsustainable burden.
Overtime as we reduce our debt to gdp ratio under 5% we can begin a soveirgn wealth fund, hopfully earning more interest than we pay.