The politicians left and right are largely fooling themselves or at least fooling the population that cutting a few billion dollars here or there will solve our debt problem. It is a charade. As Nomi Prins says:
"Much of the debt problem, most of the debt problem, arguably all of the debt problem has happened because of this imparting of debt to bailout Wall Street, to subsidize the financial system, to go back and forth between the Fed who buys the debt, the treasury increases the debt, the Fed buys the debt, and has a sort of back and forth ball going between them which only decreases our value as a nation, our entire you know, book, our balance sheet as a nation, and the Fed will continue to do this. We know that when June comes along the fed is going to go from QE2 to QE whatever..."
Of course our biggest industry, which is the war and empire industry, the death industry, is also another state financed and furnished industry which ends up costing us more then it is worth. Corporations like GE are paying little or no tax, while the government baffoons try to soak out more money from unions, entitlement cuts, or with increased taxes for the middle class to pay for their bailing out of the Wall Street and corporate war machine. The status quo in America cannot continue successfully, but it will most likely continue, possibly leaving America, and perhaps the world in ruin.