Take the tumble
Warren Buffett advocates that the U.S. government adopt revenue and expenditure goals such that our deficits would be 2.5 percent of our GDP. Given today’s GDP numbers, that would be a deficit of $375 billion. Does he not realize that Washington has been drinking the Kool-Aid served up by Wall Street and is panicking at the prospect of a fiscal cliff whereby the deficit might go down to $671 billion?
I propose that we all contact our representatives and let them embrace the fiscal opportunity that has been given to us by previous Congresses and administrations. It would be a good first step.