There's only one option. Substantially reduce government spending and stop borrowing/printing huge sums of money to operate from. The longer it takes to do that the harder it will be to turn things around and the more pain and suffering everyone will have to endure.
Government spending is like heroin. Either get off the addiction and suffer serious withdrawals or continue on and die.
posted on 11/30/2011 1:30:46 PM PST
We can do all that, reduce spending, etc, but, as Vernon Smith says, we are probably going to have to inflate ourselves out of debt. Obama has crapped in the well, there are no good choices.
posted on 11/30/2011 2:53:14 PM PST
(The rich SHOULD be paying more taxes, and they WOULD, if they could make more money.)
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