 spending cuts do work  our federal debt crisis looms ahead for not only us but for our children as congress spent with reckless abandon in the past it is time for them to realize that they must be fiscally responsible or face the possible economic destruction of our republic are we doomed not necessarily economist david r henderson points out that our neighbors to the north faced a similar crisis in 1994 the debt that canada owed to investors was 67 percent of gdp today it s less than 30 percent for an analysis of how canada worked to reduce their debt problem by john stossel from realclearpoliticscom click on the following story link titled  dc spending our dismal debt picture  138  spending cuts work  