It actually is easy to pay of the existing deficit and to balance our Federal budget. What is hard is to find politicians who have the political will to do what is necessary. If Congress wanted, they could do the whole thing in one bill with a page or less...so that everyone could both read and understand it..and it could read something like this:
WHEREAS you are not allowed to spend money that you do not have; and
WHEREAS you must pay back money that you have borrowed; and
WHEREAS you must pay the agreed upon interest on all borrowed funds;
THEREFORE RESOLVED that:
Prior to allocating any money in any fiscal year for any purpose, the interest due on money borrowed previous to the enactment of this law shall be put aside and credited to said interest;
Prior to allocating any money in any fiscal year for any purpose, Five Hundred Billion Dollars shall be put aside to pay down the balance of principal and said funds shall in fact be applied to said principal;
The balance remaining of anticipated Tax funds for the current year, after debt and interest payments as aforesaid shall be compared to the discretionary funds available in the year immediately prior to the current fiscal year and, should Congress not be able to agree on a balanced budget for the current year, the resulting % shall be utilized to reduce equally each and every department's budget and each and every expenditure by the government and its agencies, without exception, equally by said percentage.
It would be nice for government to live by the rules that govern our states, our families and ourselves.