For those interested in seeing the truth about the US budget (and other countries now trying to borrow their way to economic strength) this video is simple and to the point. The fiscal solution will require a writing down of existing debts, a reneging on funding promises to social programs as well as the the financial and military complex, re-writing social contracts, shrinking government and revising the tax structure so that it collects more and wastes less while directing more funds to the nuts and bolts needed to revitalize infrastructure investment for the future.
This is a NON-PARTISAN video produced by an accountant, Hal Mason, retired after 27 years with IBM. He looks at
the budget, its revenues and expenses, and very simply illustrates the problem in just a of couple minutes.Here is a direct link.
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Ah, but the foreign military adventures of the US are paid for by foreigners. Keywords: “US Current Account Deficits”. The moment the US starts running Current Account Surplusses then the US will be forced to pay for those adventures themselves.
This why I find it ridiculous when I hear people in North America calling Greeks lazy tax dodgers. Are we any better?
Quote: ” The fiscal solution will require a writing down of existing debts, a reneging on funding promises to social programs as well as the the financial and military complex, re-writing social contracts, shrinking government and revising the tax structure so that it collects more and wastes less while directing more funds to the nuts and bolts needed to revitalize infrastructure investment for the future.”
My advice: Don’t hold your breath waiting for this solution to happen. Why? Because these people vote: http://www.youtube.com/watch?v=YOVD-m8urJU
And you know WHO they are voting for.