We can eliminate our federal debt by 2030.
As long as we live in a fractional reserve world & money is backed by debt, one can't eliminate the federal debt without shrinking the money supply & causing a massive depression.
They'd need to issue/print money directly into circulation rather than printing debt bonds for a massive debt repayment to not cause a deflationary spiral that ends up in depression.
Also, as the world's reserve currency, the international monetary system implodes if the US runs a long-lasting surplus on the international trade & government balance fronts.
Probably the best way to bring things into a more stable trajectory would be enforcing the anti trust laws in the healthcare industry (kills the pension crisis & spiraling health care costs, which makes domestic economy more competitive internationally by lifting a tithing spent toward subsidizing health scams off of labor) along with shifting some portion away from an income tax to a VAT (going with a VAT would tax both domestic & foreign labor whereas income tax only hits domestic labor).
So many US politicians will preach about fiscal responsibility and then do the exact opposite when given the opportunity.
Excessive debt growth = fast economic growth = strong economy = get reelected.
Espoused "fiscal responsibility" by the party not in power is trying to ensure debt grows slowly when the other party is in power.
