Voters don't want to hear it but federal income taxes are at a forty year low and federal spending is at an all time high. Modest revenue increases, including expanding the federal income tax to all earners and massive cuts in federal spending are the only solutions to the current economic crisis.
The federal bureaucracy is rampant with waste, fraud and mismanagement. At least a third (33%) of the federal bureaucracy needs to be eliminated in an orderly fashion over the next decade. The federal income tax system must be simplified and broadened to include all earners.
Politicians will never tell you the truth. It's against their nature. People lose weight by burning more calories than they eat. The deficit will be reduced when the Federal government takes in more money than they spend.
This is not rocket science. Politicians lie to get elected and they spend like drunken sailors to get re-elected. The deficit will never be fixed without term limits or a Euro style default crisis in the United States.
I'd set the massive economic crisis over/under at 10 years and take the under. I'd set the term limits over/under at infinity and take the under also! We're our own worst enemy.
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