Well, sasquatch, we both agree that the status quo doesn't ever get us out of debt.
Last I looked, Social Security and welfare entitlements accounted for about 60% of the entire Federal Budget. That's HUGE.
2006 shows a .gov intake of 2.2Trillion, and an expenditure of 2.7Trillion. That's a 500Billion deficit.
1.5Trillion of the budget is from SS, Unemployment, welfare, medicare and medicaid. SS alone is over 500Billion.
We cut the FICA intake (currently 800Billion) slowly by taking the middle-aged and young off of the SS system in decreasing age groups. We lose income, but we also lose future liability.
Let's say it takes 10 years to take the workforce down to a 50% contribution to SS from the current 800Billion to 400Billion. We have to borrow another 400Billion to make up for it.
But, in 20 years after that when those workers are no longer using SS benefits (or reduced benefits at least), our SS outlays will be 250Billion instead. Plus, we will have worked on weaning people off Medicare/Medicaid (total of ~600Billion) to about 300Billion. After all, they've been taxed less and have more money to put into self reliance programs. That's an annual net savings of 150Billion when the time comes, 30 years from now.
And the picture gets better, the more you trim SS and social service expenses. They cost more than they raise from FICA related taxes, to the everlasting ruin of the budget.
But... if we eliminate FICA taxes entirely (800Billion) but also eliminate welfare-state and nanny-state programs (1.5Trillion) we end up with a budget surplus of 300Billion from our current situation on our current tax scheme.
We can pay off the national debt with that surplus, eliminating the 200+Billion in interest payments we make in the budget, and then lower taxes when the nation is debt free again.