Obama’s debt-chopping plan – Is it fully equipped for a debt free 2012?

After the scuffles over the raising of the debt ceiling ended with a final rise of the most awaited debt limit and after S&P cut off a notch from the pristine credit rating of the US (AAA), President Barack Obama has finally rolled off his plan to help the US get back on track. Unless the Obama administration slashes off the national debt, nothing positive can ever happen to the economy. Though a number of groups have published their own debt reduction plan, nothing has ever been effective in curbing the spiraling debt level of this economic superpower.

Just as the consumers are running to the professional debt help companies to control their personal finances, the government is also continuously borrowing money from other nations in order to cope up with the rising expenses of the nation. As Obama has rolled out the new plan to decrease the increasing debt level in the US, the most common question by the financial analysts is whether or not this plan is equipped enough to make the difference. Read on to educate yourself on this. Read more....