Authored for PolicyMic.
Erskine Bowles and Alan Simpson wrote an editorial for the Washington Post on Monday, reminding readers that they have a plan to reduce the nation’s $17 trillion debt. Released on April 19, the latest edition of their proposal would reduce the nation’s deficit $2.5 trillion by 2023.
That means debt would end up constituting 69% of gross domestic product. That figure nearly aligns with President Obama’s own plan, which projects debt at 73% of GDP, and stands substantially higher than the 55% target passed by the House of Representatives in the Paul Ryan Budget.