The Congressional Budget Office (CBO) projects that the U.S. government will run trillion-dollar deficits over the next 10 years. It's been accepted as the norm by each administration. They talk about fiscal responsibility but they know they won't be there long enough to feel the real repercussions. Eventually, it's got to stop. Most Americans on both sides of the aisle agree it has to stop.
The problem is nobody wants to take the drastic measure to stop the bleeding. It would be political suicide. One side would blame the other, get elected and then start handing out free things again to act as savior.
It probably won't end until the house of cards falls. Someone could try, but it wouldn't last long once people started to see cuts in benefits and services. We take a few half ass measures, but when a major artery is about to completely sever, you need more than a few bandages.
I don't know that it is as serious as I portray in my example, but it is getting critically close. You don't just turn things around in a day. We need a serious cap on spending, and it needs to be less than we currently spend. If that doesn't do it, taxes must be increased across the board, but I don't think lack of income is the primary problem. We just spend too much money.
If you have to cut off Netflix, you cut off Netflix. The American family has to do that. If you don't, sooner or later someone cuts the money flow if you are writing checks you can't back.
If we don't have serious, honest discussions about the problem now, and ACT on them, we will see the house of cards fall apart. It's like owing money to the Mob. You can't sleep it away nor hide out for a few weeks and they forget about it.
