Economy > National Debt

How Do We Balance the Federal Budget?

It seems like an impossible task. But we have to start somewhere, and this is as good a place as any.

Rhys Read | June 21, 2026

One of the main reasons for voting for Trump in 2024 was the promise, through DOGE, of balancing the federal budget.  For whatever reason, many of the cuts were not implemented, and we are still currently running a $1.9-trillion deficit with trillion-dollar deficits projected into the future.  This is not sustainable.  Our federal debt is at 130 percent of GDP, and interest payments exceed $1 trillion per year.  We must balance the federal budget.  Here is my proposal on how we can get there.

First, eliminate the fraud in the system, which is estimated at between $200 billion and $500 billion per year.  We have started uprooting this, but let’s continue and accelerate the efforts.  I estimate savings at $300 billion per year if we eliminated all the fraudulent spending.

Second, end the subsidies and government control regimes implemented to “combat climate change.”  The Big Beautiful Bill addressed some but not all of these, and it left several of these payments in place through 2027.  We must eliminate all the efforts to control gases that are necessary for life on earth to exist, like carbon dioxide, including the ethanol subsidy.  Total spending on these programs total about $300 billion per........

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