NEWS AND COMMENTARY

News and/or Commenty on World Events.

Government Finances

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All governments are slowly going bankrupt.

This includes local, state and federal; both in the United States and the rest of the world.

Why?  And can anything be done about it?

The simple answer is to raise taxes and/or cut spending.  But is that a long term solution?  The problem is that taxes can only go so high and the need for spending is bottomless.

The budget problem is directly related to the state of the economy.  The worse the economy the worse the budget problem becomes; the worse the budget problem the worse the economy becomes.

Politicians do not have an answer.  They lack the requisite abilities.

So, what is going to happen?

The world will just muddle-through while slowly sliding into the abyss of economic disaster.

 

Referrals and comments to this blog would be greatly appreciated.

 

Please see other blogs at

http://presidencyintheunitedstates.wordpress.com/

http://trueproblems.wordpress.com/

http://www.aarp.org/online-community/people/showProfile.action?UID=21433052&plckPersonaPage=PersonaBlog&plckUserId=21433052

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Written by solutions777

July 27, 2011 at 2:53 pm

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