[kabar]

Agreed. Budget cuts in Washington mean a reduction in the rate of growth. We are hurtling towards the cliff and there seems to be a lack of urgency in addressing our problems. We are witnessing the collapse of the welfare state not only here but in Europe. It is unsustainable.

If interest rates return to their historical norms, we will be in a world of hurt with debt servicing costs alone amounting to almost a trillion dollars a year. The politicians of both parties are afraid to tell the public how bad things really are.

[rodguy911]

Ironically the penny plan which has everything we need would work.

Just cut the budget, if we ever get another one to cut,1% per year for ten years and stop the insane automatic increases and we balance in almost no time at all.

It would be near painless,do much to save not only the country but the financial system of the world. Yet this simple plan would face huge opposition by the big spenders in congress probably on both sides.