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Unlock Growth to Manage Debt
The crisis of inefficiency and lack of accountability leads to excessive spending and a deepening debt problem, causing a potential 'debt death spiral.' To counteract this, it's crucial to deregulate and unlock economic growth, targeting a GDP growth rate of 4-5% as a means to manage the debt-to-GDP ratio effectively. Minimizing wasteful spending and the federal deficit is essential, as tax revenues can only cover a limited portion of GDP. Observing China's rapid growth in electricity production highlights the urgency of addressing these issues, as the U.S. must compete with escalating capabilities abroad to foster sustainable economic improvement.
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