Tuesday, August 2, 2011

Debt ceiling- Bottom line

As much as I should avoid politics, this entire debt ceiling debate can be summed up quickly:  Without raising revenue or lowering expenses we are pushing the problem off to the next generation (and we have been for generations).  This is actually a big part of The Watchman's Rattle: Thinking Our Way Out of Extinction root cause of the failure of ancient Romans, Mayans, and Khmer civilizations failed.  Of course, we may be reaching the tipping point when the system collapses.

That's all the big money. That's where it is. It's not in some mythical waste fraud abuse. The bulk of the money is in Social Security, Medicare, the military, interest on the debt.--- “Fareed Zakaria GPS”
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