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Well, public debt expressed as a % of GDP (you know, a measure indicating a nation's ability to manage debt), America's debt load is at or just below the world average.
This is why a longer-term deficit reduction program is sensible vs. extreme measures. There is no need for extreme measures. There is merely a need for a plan.
Spending is an issue, yes. But following (and during, ostensibly) a period of excessive spending and tax cuts, you've got to look at the big picture.
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Knowing that death is certain and that the time of death is uncertain, what's the most important thing?
—Bhikkhuni Pema Chödrön
Humankind cannot bear very much reality.
—From "Burnt Norton," Four Quartets (1936), T. S. Eliot
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