[QUOTE=chiefst2000;4470317]How do we reduce spending when any thought of a small cut in duplication and waste brings a wave of newspaper editorials and tv ads calling the cuts draconian and racist. Inflicting pain on (insert group losing the handouts here).
It wont happen.
How do inventors and entrepreneurs succeed in today America where regulations and litigation wait around every corner. Er.. a friend of mine was sued for sending his customer a fax. Did you know that you can get sued for sending a customer a fax? My er friend is in the hole for $10,000 in legal fees so far defending a lawsuit with no merit.
Even with whatever innovation trickles through the massive regulatory burden it wont be close to enough to solve the systemic debt crisis. Much like the automakers the math used to calculate pension fund returns was wrong. There has been no effort to correct the math. The actuaries in this case were as mistaken as they were when they calculated the risk losses in sub prime instruments.
Within a few years, definitely less then 10 years massive inflation will be here. It is inevitable because the way our currency system is set up there is no other recourse. We will print the money necessary to pay our interest and as a result inflation will explode in to double digits.[/QUOTE]
If you had told me we would have the lowest energy prices in the world because of new natural gas finds and drilling techniques 10 years ago I would have told you no way. Oil from sand in Canada or from shale in the US? If back in 1975 you told me we would be importing deflation from China while having full employment for 10 plus years I would have said crazy talk.
Apple is going to be the biggest company in the world, lunacy.
In 10 years we may not need a drop of the oil we store in the strategic oil reserve for all any of us know. Todays unsustainable budget may look reasonable in 10 years if our economy goes through a massive growth cycle.
Facebook is going public tomorrow. People are inventing, doing research, changing the world while we speak.
Worry about the land mines in front of you not the ones that are planted on a road you might not travel.