The whole world is near $50 trillion dollars in "government" debt at the moment. This is unsustainable.
These little cuts and tax increases are not going to correct the core of the problem, and that is most governments (especially in the west) borrowing money into the economy rather than spending into the economy like they were supposed to.
The Fed (fractional reserve banking) needs to be nationalized or shut down and the Glass–Steagall Act reinstated.
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