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Taxation and Expenditure

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Prosperity
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Taxation and Expenditure

I'm relatively new to the game (started playing about three days ago). I'm a bit worried about my 1.5 trillion dollar debt, which grows about 100 billion dollars every year/quarter. I also have a -3.5% growth rate for my economy.

http://www.ars-regendi.com/rid31180/state/44346

What should I do?

23.12.2009 17:24
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Arizona2008
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RE: Taxation and Expenditure

Firstly, raise taxes and cut your pension until it reaches about 100% of your monthly living cost (right now, it's 201%)

Secondly, enact the Negative Income Tax reform as soon as you can. That way, you can collect taxes more efficiently, and it will boost your coffers.

Thirdly, look at making minor reductions to every single element of your budget, except health, education, and family (especially family spending. Don't screw with it. Your birth rate is too low).

Finally, you need to reduce the number of unemployed in your economy, and jumpstart your economy through Quantitative Easing (printing money) and reducing your interest rate. Reduce Interest Rate and print as much money as possible during your next budget.

The last step is important if you are going to pay off your debt. Without a good economy, you will not be able to hold an account surplus, and pay off your debts, for too long.

Please contact me if you need anything.

23.12.2009 19:19
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