To Cut National Debt, Welfare Reform Is Much Better Than Taxing The Wealthy

Economists predict that the United States’ debt-to-GDP ratio will reach 210% by 2050 — and that cutting welfare is a far more effective strategy to address the crisis than “taxing the rich.”

According to Penn Wharton Budget Model, a nonpartisan think tank at the University of Pennsylvania’s Wharton School, the United States’ debt-to-GDP ratio is projected to hit 210% within the next three decades.