They are rioting in the streets. The people are angry because the government has no money, is raising taxes, is cutting off welfare, and is reducing and/or eliminating pensions to its retirees. Greece? Nope. The good ole USA! That also means no more healthcare, because we have let the government run it and take away our right to self determination. When we are out of money, those who are living off the government dole will riot. They will either have their needs met by the government, or they will meet their needs by taking what they need by force. This will truly be a redistribution of wealth in America. And it will happen when the USA goes broke, just like in Greece.
We are not there yet, but we are close. Our government deficit (that is just like credit card debt for you and me) is huge and is growing at a blazing rate. When you hear Congress talk about reducing the deficit, they are not talking about paying down the debt. They are talking about reducing how fast the deficit is growing. When Congress talks about cutting spending, they are not talking about spending less. They are talking about a smaller increase in spending. There is no plan in Congress, and no desire for a plan, to actually spend less in order to pay down the debt of our country. They are just hoping that revenues will increase because of their superior management skills (smiley face goes here.)
It is simple. We must spend less. That means that some things we now have, we will no longer have. The Federal Government of the United States must stop spending, stop increasing taxes, and stop trying to run our economy on make-believe money. We should close most Federal Agencies today. I am talking about the entire Departments of Agriculture, Commerce, Education, Energy, Health and Human Services, Housing and Urban Development, Interior, Labor, and Veterans Affairs, as well as the Federal Reserve and the Environmental Protection Agency. All of these should be the responsibilities of the individual States, if at all. Defense, Homeland Security, State, Transportation, Treasury and the Attorney General should be better managed for the good of the USA, not the world. That means downsized!
The IRS should be abolished and replaced with a consumption tax (the Fair Tax.)
If we cannot get our financial house in order, we will fall. No business or family can survive when spending exceeds earnings for a long period of time. Neither can a country.