Attention, people who want America to be run like a business! Do not believe the fiction about to spew forth about the contrived debt ceiling “emergency”.
This retired business owner knows a few things about running a successful enterprise. If America were my business, hunkering-down (austerity) would not be my go-to solution.
The first thing I would do is end discounts I could not afford: think tax cuts (discounts), tax loopholes (discounts), and subsidies (discounts + refunds + incentives that can exceed the cost of the product)!
The second thing I would do is realistically price my product (reevaluate taxes). After a decade of unfunded war, should we add a war tax? And the Medicare D non-compete giveaway: should we add tax to cover it or reconsider that decision? There are many pricing issues to discuss, but those two alone amount to $Billions per year.
While cost savings are always appropriate, cutting back on the American product line before doing the first two steps is just bad business. Why discount and underprice America out of existence? This is a revenue crisis, not a debt crisis.
My recommendation to Congress: the market (taxpayers) having received the greatest value from discounts etc. in the last 10 years is well positioned to absorb a cost increase. End the dysfunctional discounting practices immediately. Recognize the national debt as predominantly unfunded war debt and plan for repayment accordingly.
Preserve the product line: the American way of life.