First off, it is not that big a deal. Heck, we (USA) were in debt $53 trillion last month. So now with the Paulson plan we will be in debt $54 trillion.
So how do we pay off the extra trillion?
Actually it is pretty simple, since all debts are ultimately born by us taxpayers.
Let’s assume there are 100 million workers. If they just pay an EXTRA $1.00 a working hour pre tax, That is $2,000 each per year per worker. Multiplied by 100,000,000 workers that is 200 Billion! So in five short years we can pay that off.!
Oh yeah, there is that other $53 trillion as well. I guess that is where the kids come in.