[j_k_l]

"The entitlement programs make up 40% of the budget and the costs of servicing the debt are about 17%. So only about 60% of the budget is “discretionary” including defense. We are going to have a very difficult job reducing government spending, especially during an economic downturn."

I have a very limited knowledge of economic issues. On a personal level, I was debt over my head. The only way out was to make a lot of sacrifices and live below my means in order to pay back what I owed. It took years but I got there.

Could the government accomplish such a thing?

[kabar]

Not without the political will to do so. I doubt our political class has the courage to tell the American public the truth about our economic condition.

[Gondring]

Here’s a question...

What does America produce fhese days that others want to buy? What does the average American (have you seen the average American these days?) do ten times better than the upper quintile* of India and China? In what marketable skill does it take 10 others to do the work of one American?

If an American can’t answer one of these with his field of expertise, then he shouldn’t expect to make 10x the salary as other workers. And he should remember that OSHA protections are part of his compensation, so I’m being generous.

Why should we expect others to pay for our irresponsibility?

*These countries could match an honor student to every single student of ours.