Sunday, March 06, 2011

America's fiscal crisis - a non-political perspective

There are a lot of perspectives on America's financial status these days - mostly political ones. So how is an average person supposed to make heads or tails of the truth considering the claims on both ... well, on ALL ... sides?

TechCrunch had this article which highlights a new study:

So how can we be so apathetic when we see true abysmal fiscal neglect, especially when it’s that of a pseudo-company in which we all essentially own shares?

That pseudo-company is the United States government and in a thorough report issued today, Kleiner Perkins partner Mary Meeker has taken all emotions, politics, spin and manipulation out of the issues, to present a steely-eyed view of just how hosed our financial situation is. Spoiler alert: It’s not pretty. America is gripped by a new red menace and this time, it’s not the commies– it’s a sea of red ink. If politicians reported to voters the way management reports to shareholders, no one would finish out their terms.

If you’re a tax-paying American, you should read the report (embedded below) to see how your money is being spent. If you’re not an American, you should read it too. Far too often blogs like ours trumpet the advantages of living and starting a business in this country, of which there are many. But here’s a sober view of the downside of our wishfully innate belief that we deserve to have it all: We are in a deep financial hole, and there’s not an easy, pain-free or politically palatable way out.

They further explain - and this is the point I like - "the interesting thing is why she wrote it: Because for all the hand-wringing over the cost of health care and the state of our deficit, she had a hard time finding the simplest data for what America’s financial situation was."

Here is the report. Please read it and understand the financial picture minus the spin.

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