Surviving the Coming 50% Budget Cuts – Part II

Marc Faber (Link to Business Insider Story)

As reported by the Drudge Report and Business Insider this afternoon, Marc Faber, investor and economist known for his spot-on assessment of the world economy and author of the Gloom, Boom and Doom report told CNBC in an interview on Monday, “The debt burden in the U.S. and other Western countries will continue to increase leading to a “colossal mess” within the next five to 10 years.  Additionally, bureaucracies in the U.S., as well as Europe, are far too big, and are a burden on the economy.”

So, what does he propose as the solution to the problem?  “My medicine for the U.S. is: Reduce government by minimum 50 percent.  The impact would be immediately an improvement in the economy.”

50%  Really???  That’s out of touch.. that’s extreme.. that’s… that’s.. that’s… just the right answer??? Continue reading


Surviving the Coming 50% Budget Cuts

Cut your budget by 50%…  Impossible you say.  I would tend to agree with you if all things stay the same.  What would happen if NOAA or USGS faced 50% cuts?  What about education, emergency services, health care, environmental protection?  How many of us are employed by these entities?  How many of us depend on the programs and services provided by these agencies?  What about grant funding from other entities, especially federal or state governments?  Even charities are faced with the same difficult question.  How would your life change if there was a 50% cut in funds coming to your program, department, agency or organization? Continue reading