If that number divides President Obama's offer to decrease the debt by $4,700,000,000,000. What percentage is that of the total national debt?
Very roughly the percentage of President Obama's Debt Ceiling proposal, which Republicans claims doesn't exist, is 28 or more like nearly 29% of the National Debt as it stands right now. There is no other proposal that even comes near that today.
President Obama needs to write the Debt Ceiling Law and sign it with a note it is being invoked by the Executive Branch, with evidence as an attachment, under the 14th Amendment and take not nearly a third off the deficit, but, only 10%.
Then Congress can wrestle all the want until the next Debt Ceiling increase which may come sooner than two years if the USA Treasury Revenues continue to be destroyed. They can wrestle as to how they can reduce the national debt. And instead of a Balanced Budget Amendment, President Obama needs to sign with the law he passes under the 14th Amendment, the provision that EVERY spending measure will be paid for without increasing the national debt. Not the debt ceiling, but, THE CURRENT national debt as it is on the day the spending bill is passed. I do believe the Democrats call it "Pay Go."
