Quote:
Originally Posted by Paul Markham
It will take a lot of those microscopic wastes to wipe out the debt. The main ones are Health and Social Security, Unemployment. Which it's tough to reduce by cutting the amounts. without seeing riots on the streets.
How many of the large spends are also operated as if money grew on trees? In the UK, the attempts to introduce IT has ended in disaster and costs billions. Because the people in charge are simply out of their depth.
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One of the best illustrations I have seen of the debt is a plate of food that has a big piece of chicken, a large helping of mashed potatoes and a large helping of veggies. On the side it has a small piece of parsley. It was then explained that the chicken, veggies and potatoes represent defense, social/welfare stuff including social security and medicare, and pensions/interest. The parsley represented everything else. Once shown like that it becomes pretty clear that no serious debt reduction can happen until we start to carve into those big three. We could completely get rid of everything else and still have a massive amount of debt.