America's financial challenges are headlined by a negative net worth of $44 trillion (or $371,000 per household) and gross debt as a percent of GDP in excess of 90%. But they can be solved with constraint and reduction in government spending at the top of the list. Entitlement spending is the largest expense by far and has risen to 57% of annual expenses, up from 25% 40 years ago. By the government's own forecast, our annual entitlement spending plus the interest expense on our debt is expected to surpass our revenue within 15 years. We all need to acknowledge the problems and commit to change.
Yeah pretty much. I wish we could just toss out the CEO (President) the senior management (Senate and Congress) and hire some guys from Apple to run the company. I'm pretty sure they would get that debt thing under control and it would be a real blast to do any business with the Federal Government (which would all be on the USACloud with an ergonomically designed web page.)
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