Last week I was on vacation on a Caribbean Cruise. The people on the cruise ship were truly amazing! I have never seen so many grossly overweight people in my life (in one place). There were eight different dining rooms on the ship and most of the passengers went from dining room to dining room in order to eat and eat and eat. It was truly disgusting. I go on a cruise and I lose a couple of pounds (because there are no taxis, I am walking much more than usual). I eat only three meals a day; and essentially the same as I would eat at home.
While on the ship, the best part of the vacation was that there was no easy access to news. It was wonderful. Unfortunately reality has returned!
The answer for the national debt issue is clear. The US Government needs to spend less and increase income. That is quite obvious. So how does the US Government spend less and increase income. Let us try spending less, first:

1.  As I have previously stated there are apparently millions of square feet of government space that are vacant and costing money to maintain. The government can sell this real estate, generate cash and save money.

2.  All expenses need to be spent as though it were the money of the specific individual spending it. The employee count could be significantly reduced. Each department would need to be evaluated for the benefits provided and necessity. All assets would need to be reviewed to determine their respective needs; ie.; cars, trucks, computers, etc.

3.  All travel, all purchases would need to be evaluated.

4.  Employee benefits would need to be evaluated as if by a failing corporation (salaries level as well).

Increasing income:

1.  Remove all tax breaks that benefits one or two individuals or companies.

2.  Consider modification of deductions.

3.  Consider a flat tax, with lower rates and a national sales tax. A national sales tax would be easier to collect and would collect from everybody, including those who are now part of the underground economy.

4.  Sell off the US Postal Service

5.  The US Government should be charging fees for use of items in which the government is incurring expense:

A.  National Parks

B.  National Museums

C.  Any other type of product, service or effort in which the government incurs expense and people utilize the governmental product or service

This would be a starting point. You may make your own suggestions.
•  The DJIA looks much higher for the next several weeks.
•  Gold appears to be topping and then having a large correction.
•  Oil appears to be topping, but at somewhat higher levels; and then correcting as well.
•  The dollar has been falling and should soon bottom and then rise.
•  Interest rates are still below 4.5% on the 30 year Treasury. We should see much higher rates before year end.
•  Real estate pricing is still falling.
•  The economy continues to look weak.

Arnold
Disclaimer: Arnold’s Ramblings Inc. and/or its writers, representatives, employees, shareholders, executives and affiliates may have a financial interest in any security recommended to readers or otherwise mentioned. Nobody associated with this website or Arnold’s Ramblings Inc. is a registered investment advisor. Everyone should review investment materials in detail and with due dilligence when possible, and should consult proper counsel prior to investing. All information and advice presented by Arnold’s Ramblings Inc. is believed to be accurate and reliable when posted, but cannot be guaranteed.

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Arnold Goldin

Prior to 1980, Arnold Goldin worked in various publicly held companies rising to the position of Assistant Corporate Controller of US Surgical Corporation. From 1980 to present, Arnold has served as President of Arnold S. Goldin & Associates, Inc. (and related and associated entities), providing accounting, tax and management services functions to individuals and corporations throughout the United States. Since 2002, Mr. Goldin has also written an e-zine related to geo-politics and finance, which can be found at arnoldsramblings.com.

The views expressed are those of the writer and do not necessarily represent those of BIZPAC Review, its management, staff or advertisers.

Latest posts by Arnold Goldin (see all)

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