You would have to be living under a rock to not know about our looming “fiscal cliff” and national debt issues. It seems as this is a vicious cycle of spending, asking for me, arguing about what to spend it on, needing more money, spending more money, arguing about what side is right, and then spending more money again. Although America has been essentially bulletproof from actually going bankrupt because we control the “reserve currency”, it is tough not to be at least a little worried that perhaps we took it all a little too far this time.
The Peter G. Peterson Foundation put together an incredible 34 page paper on this subject. It discusses the spending issues, taxes, budgeting, and even some solutions. If you are even remotely concerned about this serious debt problem in America, we urge you to download and read the report today.