i failed to mention the 800 pound gorilla in the US deficit - health care. its slowly killing our economy, driving up costs for both business & governments. the cause of this is very complex, & the solutions are very political.
But IMO the health care reform will be the keystone as to whether the US can get its budget under control. If the government cannot pass reforms that destroy the harmful impacts of tort & corporate profiteering on the system, the bomb will go off sometime in the next decade. if you believe the mayans, 2012 sounds like a good point in time.
i personally do not see congress having the gumption to do what it takes to bend the curve. I hope im wrong. A key indicator will be the price of the stocks of health insurance & big pharma stocks. Whats good for them is bad for the country, & vice versa.
last, i pray that bin laden does not get the bomb, & that obama does not get assassinated. either of these occurances will surely hasten the slow death of the american dream, strangled by special interests & megacorporations run with a gordon gekko ethos.
