We cannot start cutting soon enough. And there isn't a "cut" or any such thing which will get CALLED a "cut" (even if it isn't a real "cut") that can be implemented that will not "hurt" someone or some group somewhere at some point.
So, yeah. Pain is in our future. But not doing anything about it, now, and dramatically is childish. Re-setting a broken bone can be painful too. That's not a compelling reason not to get about the business of fixing what's broken.
you make a good point and need to cut debt is very important. But be careful from uk example. George osboune went on massive cuts and yet after two and half years he created no growth virtually at all.
But your right that debt need to be addressed. But romney need better plan about doing it then cameron has shown.
When we are already on the very cusp of paying 100 cents of every dollar to cover interest on the debt and social security and medicare (and soon, unless we smarten up, Obamacare), we have no damn choice but to immediately lower the debt. Pay that ***** down.
And there's no way we can pay off a tremendous amount of it at any one time. It is going to be a slow process if the American politicians have the nerve to do it at all.
But just like a family that has overextended their credit and maxed out their credit cards, etc., cannot borrow more in the hopes that they can avoid their doom, so too America cannot go on stupidly and foolishly just accumulating more debt on the debt to finance the interest on the debt and so on and so on and so on.
It OUGHT to be a firm goal of the Administration to (a) pay the interest on our debts as they come due, first (b) then pay down some small percentage or fraction of a percent if need be of the principle portion of that debt and then (c) go about paying, AS WE ARE ABLE, for all the other "things" we choose to spend our collected wealth on. This last point entails actually CRAFTING honest to God BUDGETS and then abiding by them.