How bad is it?

[sabot_round]

This video presents a very simple explanation. Here is an even simpler solution: When you find yourself in a hole, and you do not wish to go deeper, the first action must be to stop digging.

I will never be happy about paying higher taxes. I will never be willing to pay higher taxes to support more spending and borrowing.

Stop spending what we don't have. This should stop borrowing. Once this happens, then talk to me about what I need to pay to make things right for my children.

Be safe.

I believe the point is that we cannot cut discretionary spending enough to fix the problem. The interest on the debt, which most of us look at as a mandatory expense, takes almost a third of our annual revenue. Without looking at operating expenses, which is where everyone agrees there is some waste and redundancy, we must look at the other mandatory expenses. The principal categories are Social Security, Medicare/Medicaid, and pensions for retired federal employees. If we can't agree to cut one of these three "sacred cows" then we will NEVER be able to restore fiscal solvency in this nation.

The fate of Greece will make our future look like a match next to a bonfire.

In the words of the dolphins; "So Long, and Thanks for All the Fish."

Ding, Ding, Ding!! We have a winner!!!!!!!!!!!