Under Obama, and no doubt under most any other Democrat regime, additional revenues coming into the treasury and/or expenditure reduction of a particular program or programs (ie: Social Security), does NOT in itself mean or necessarily indicate a reduction of the debt.
In the case of the treasury receiving additional revenues - there is no guarantee these funds would be used to pay down the debt. On the contrary, there is ample evidence to suggest the administration and the Democrats in Congress would make every effort to pee away these additional revenues on their pet programs or invent additional programs/projects to fund.
In the case of cutting Soc Sec, Medicare - so-called entitlements - Obama and his congressional Democrats could not be counted upon to pay down the debt with any savings that might be realized. On the contrary, a budget “cut” in Washington means only a reduction in the rate of GROWTH in spending. Even if real year-over-year budget reductions were realized there would be every reason to suspect that Team Obama would blow the “savings” in other areas of the budget or create new programs/projects.
The moral to all of this is: Team Obama and the Democrats will NOT reduce year-over-year federal government spending and will NOT reduce the federal debt from its current $16.6 trillion level. NO WAY. NO HOW.
The saddest part of all is the fact that Republicans won’t either. Oh, under the Repubs we might be $24.5 trillion in debt by 2025, instead of $26.5 trillion under the Domocrats. Frankly, I find that a distinction without a difference.
The long and the short of it is this: We need new leadership - true FISCAL conservative leadership. Not only that, we must have FISCAL conservatives in Congress in the numbers required to push through legislation that is not compromised with the usual liberal BS hung around its neck like an anchor.
Don’t hold your breath.