The debt ceiling drama that reached a "compromise" earlier this week is just the tip of the financial iceberg facing the United States. The so-called "spending cuts" are not actually reducing the bottom line deficit...they reduce the "increase" in the deficit. That means that all that drama, debate and discussion doesn't actually fix the underlying problem, which is that USA Inc (aka "the US Federal Government") is spending far more than the revenue it has.
Mary Meeker, a partner at Silicon Valley-based KPCB (Kleiner, Perkins, Caufied and Byers) and former financial analyst at Morgan Stanley, took a detailed look at the financial status of the United States as if it were a business to try and objectively determine how we reached this situation and our option to get out of it.
The key is that something MUST be done...and while some may differ on how what we do, it's important to educate everyone what the situation is and our options to get out so those in positions of policy and legislation take the steps necessary to fix the mess. Failure is NOT an option.
For more information on the report, watch the above video or visit USA Inc or download the PDF. Please share this video with others so, if nothing else, the public better understands the situation so we make better decisions going forward.
1 comment:
It's very educational and important for the public to understand what's really going on and at stake.
Personally, I would like a full restructuring of the biz model. Big cuts to spending, simplifying the tax code (includes eliminating some deductions) and getting the confusion on the way so entrepreneurs can forge ahead.
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