How to Shrink America’s Debt? Start Small

For the past five years, U.S. lawmakers concerned about the nation’s growing federal debt have been focused on relieving the problem by striking grand bargains in one fell swoop. We have had commissions, task forces, bipartisan “gangs” of senators, a “super committee,” and high-level negotiations between the White House and Congress. All tried their damnedest to craft a comprehensive bipartisan package that would tame the future growth of debt by slowing projected spending for major entitlements and reforming the tax system to raise more revenue. T