While it states that there's still a huge 13.7 trillion dollar debt, which in reality is actually nearly 80 trillion dollars if you include Fannie Mae, Freddie Mac, and entitlement obligations like Social Security, Medicare and Medicaid on the Federal government's balance sheet, it just isn't enough. Slashing whole department won't even be enough.
The Federal government won't do any of this of course, either they'll default on the debt, or print more money (hyperinflation).
Even if they did turn a budget deficit into a surplus, it won't mean squat when the dollar is worth nothing.
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Anonymous2010-11-17 7:25
Durrrrrr I don't understand what discounted present value is