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America can slay its deficit monster, but it takes courage.
Real political courage and that seems to be sadly lacking.
I point to Canada's current Prime Minister - Mr. Paul Martin as a guy who knew how to slay the deficit dragon.
For years the federal government of Canada had been borrowing more and more money every year. It started small and grew and grew until finally under the Conservative Brian Mulroney, it became an art form.
Then along comes Paul Martin, then finance minister under Chretien.
He made some tough choices, he raised taxes, and cut services. In a few years of rather large cuts, he had balanced the budget.
Now, Canada is the only G-7 nation that has had a balanced budget for 7 years in a row. In fact, we have been running surpluses which Martin has wisely used to pay down the debt from 68% of GDP to now around 40%.
Americans might not like it, but there is no such thing as a free lunch.
As much as you might hate it, you should look at implementing a national sales tax to apply towards the deficit.
You aren't going to have much choice really.
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