I am with you Tsing Tao, I just do not see any other realistic way to get the federal govt to make any significant cuts to spending. The fact is that they just cannot stop themselves. They will always find a reason to put things off. Even if the economy gets better, they will postpone things in order to "not jeopardize the recovery" or some other excuse.
In a few years the country will be $20 trillion in debt and when interest rates begin to rise...
Maybe they believe that they can print money forever...no consequences, no reprecussions.
No one in the US govt seems to be willing to take any amount of significant short term pain, even for the long term health of the country.
That CNBC crowd is always talking about how dangerous the national debt and annual defict is, but as soon as a meaningful solution...the Fiscal Cliff...comes around, they act like its a doomsday pact or something. Unfortunately where I work I am forced to listen to that nonsense all day.