It is difficult to believe the U.S. is serious about fixing the debt.
The leadership is serious about maintaining a credit rating, but credit is best used with someone that can pay their bills.
The spend-thrift attitude in D.C. is more of a danger to U.S. citizens than any external enemy.
It is also hard to believe the senior political leadership has a clue about defense cuts. For instance, maintaining bases in Europe provides no real national defense value. Nor does the side-show in Libya. Any real strategic thinker knows that Iraq is going to go bad (is starting to go bad) as U.S. troops leave. The enemy in Afghanistan only has to wait as we have now announced a pull out date.
And for those interested; we spend over two billion dollars per week on these useless, no-gain wars. All while over 40 percent of our federal budget is borrowed money.
There seems to be a lot of wailing about personal tax rates. This is not the problem. If you taxed the highest earners at 100 percent it would be much less than a drop in the bucket. No, the real loss in revenue is from off-shoring over 50,000 U.S. companies since the glory days of the Clinton years that the administration was so happy to mention in a tweet. They mentioned Clinton and higher tax rates and left out the bit about our civilian leadership approving off-shoring everything that isn’t nailed down. Our biggest export is empty shipping containers.
THAT, is a lot of lost tax revenue.
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