"A highly productive former U.S cabinet secretary with world class expertise in >government administration of economies with nearly half a century of serious >practical experience? Nah, what does he know. "
How to run the place into the ground. Seriously, look around you. Damnear every country is in debt.
People say not to apply regular economics to macroeconomics, but look at the situation. And the same kind of thinking that got us into this mess is not going to get us out of it. Simple :
"Why S&P Downgraded the US: U.S. Tax revenue: $2,170,000,000,000 Federal budget: $3,820,000,000,000 New debt: $ 1,650,000,000,000 National debt: $14,271,000,000,000 Recent [April] budget cut: $ 38,500,000,000
Let's remove 8 zeros and pretend it's a household budget: Annual family income: $21,700 Money the family spent: $38,200 New debt on the credit card: $16,500 Outstanding balance on the credit card: $142,710 Budget cuts: $385 "
I takes a hell of alot of education to remove the common sense it takes to see that the situation is unsustainable.