Dear Dr. Fred:
I was talking to some Tea Party friends and they insist their ideas for debt reduction are the only ones on the table that address issues of reducing government expenditures. I was told, unlike the Obama program to reduce expenditures by $1.2 Trillion over ten years, the Republican plan to reduce it by $100 billion a year over ten years makes more sense. Are they right?
Debbie The Debtor
Your Tea Party friends, as usual, have an interesting approach to debt reduction. I can not boast of being the brightest math student in the world, but my fifth grade teacher, Mrs. Kinkerfuss taught me that $100 billion per year over a ten year period comes to $1 Trillion. Of course, one trillion Republican dollars is the same as two trillion Democratic dollars.
If possible, could you send me the name of the Tea Party economist, I would like him to handle my income tax return. In his hands, I should receive a tax return of about $100 million.