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Begin by reviewing the grid that represents $1.345 trillion. Each square corresponds to $1 billion, so familiarize yourself with how many squares you need to fill.
Next, explore the menu of options for spending cuts and tax hikes provided below the grid. Each option lists an amount that will help you reduce the deficit.
As you select options, fill in the corresponding number of squares on the grid. Use different colors to distinguish between spending cuts and tax revenue for clarity.
Continue making selections until you have filled all 1,345 squares, ensuring your choices reflect a balanced approach to tackling the deficit.
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Deficit reduction in the United States refers to taxation, spending, and economic policy debates and proposals designed to reduce the federal government budget deficit.
What is the best way to reduce the deficit?
Eliminate or Limit Itemized Deductions: The largest option to reduce the deficit would be to eliminate all itemized deductions, which benefit taxpayers when the value of their deductions exceeds the amount of the standard deduction. That would reduce deficits by $3.4 trillion over the 10-year period from 2025 to 2034.
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