That would be the greatest reduction in effective government debt in world history.

FORBES: Newt Gingrich's Entitlement Reform Plan

Instead, they would ultimately eliminate the unfunded liability of Social Security entirely, which would be the biggest reduction in effective government debt in world history.

FORBES: Gingrich Schools Santorum And Romney On Social Security

Though there is little to indicate that households behave in this way in general, there is evidence that when governments are heavily in debt fiscal stimulus becomes less effective, and investors' and consumers' confidence can deteriorate suddenly.

ECONOMIST: Tightening economic policy