6 Ways to Look at the National Debt: Is the Debt Problem Solvable?

President Obama is set to lay out a plan; here are six sides of the issue.

ByABC News
April 12, 2011, 6:10 PM

April 13, 2011 -- President Obama will outline his plan to lead the nation out of its financial mess and cut the $14 trillion national debt in a speech at George Washington University today. The combination of tough choices about taxes, spending and needed social safety nets made us wonder: Is the debt problem solvable?

Here are some different and often opposing takes. The answers range from "cut spending" to "raise taxes" to "change Medicare" to "don't worry so much about it."

Do Everything and Do It Quickly: David Walker, CEO of Comeback America Initiative

There is no question that our deficit and debt challenge is solvable. The real question is will we solve it in a timely, reasoned and reasonable manner in order to avoid a U.S. debt crisis or will it take a crisis for Washington to act?

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