The U.S. debt and maintenance of Superpower status-2

The cuts will be very painful if we want to put ourselves in sound fiscal order. As an individual, you are familiar with how debt can hold you hostage. You are just a slave to your debt. You can enjoy the money now but then you have to figure out how to pay it back. If you income is more than your debt then it is fine as long as you can pay off your debt. But if your income is less, then you have to have another job or some other income to try to make up for the difference. The same should hold true of U.S. debt. The U.S. is now beholden to an enormous debt which shows up all over the news, but the more fundamental problem is the unfunded and promised future debt that will not going to be paid.

This is now being acknowledged by representatives slowly that all the promises to pay in the future will not be met unless we raise taxes enormously reduces the entitlements drastically and reduces our defense budget drastically. We should stop acting like a Superpower unless we have the money to back it up. Our status as a Superpower is being slowly reduced to the status of once Soviet Union, whose military was great but economy lousy. Unless we solve our debt crisis and start paying it down like individual households does, we should be ready to kiss our status as the sole Superpower goodbye.