Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Friday, August 26, 2011

The US Budget Problem

The people want more spending, but they won't vote for higher taxes.  In fact, they want tax cuts as well.  The budget deficit took years to get here, and what's needed is not a massive spending cut/tax hike now (because that will plunge the US back into deep recession) but a plan over 5 or 10 years to achieve balance.

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