The new unsustainable Deficit numbers

So now that the new deficit numbers have been released which are mind boggling what the politicians are going to do? Maybe start taking some action or the same old bickering and fighting about how to cut the deficit. The tax cutters and tax raisers will log horns with each other and it will go on. Since the sacred cows will be protected at any cost, we will have to look at other ways to reduce the deficit. But are the politicians brave enough even at the risk of losing the next elections take bold steps to stop this ever rising debt. There are so many questions but the solutions are few and far between, but even when they are there, the bipartisan politics come in between.

The sacred cows (Medicare, Medicaid, defense and social security) are not touched and the remaining we can’t reduce either which is the interest on the ever growing debt. If we don’t take bold actions now, our future generations will see the reduction or even elimination of entitlements since our debt will be assumed by other investors at high interest rates. And it is not just that but other long terms interest rates on car loans, mortgages, credit card and the like will see higher levels of it. Although it is nice to see that finally every body is talking about debt but the solutions are very distressing and nasty to say the least.