One of the first things one learns in economics is that household budgets are very, very different from government budgets.

There are many, many government programs that can and should be cut. Starting from a sound analytical basis, however, is critical.

http://www.huffingtonpost.com/l-randall-wray/the-federal-budget-is-not_b_457404.html

A new report from the nonpartisan Tax Policy Center found that everyday families will see main tax hikes in the coming year, should previously enacted tax breaks expire without renewal. It warned what of would be the result of lawmakers neglecting to tackle the so-called "fiscal ledge."

the world economy is based on debt to banks and the ONLY way the govts can continue is to keep printing more and more money

In short you cannot keep running a debt based economy it will collapse at some point

BUT of course one obvious way of reducing spending is considered taboo - CUT THE MILITARY

With all due respect Val they don't teach that in economics nor is that article by any stretch scientific.

Quote "But only a moron would refuse to accept dollars today on the belief that at some unknown date in the hypothetical and distant future their value might be less than today's value.". I rest my case.

Unless you're Germany or Japan.

Telling the US to make Militray budget cuts is like telling them to ban guns, even obscene statitics wont budge them (>170 children under 12 killed by guns since the Newtown shooting in the US).

The wonders they could do with that military budget...

killing is business

the ironic thing is that the US tends to get singled out on this but I do not see many other countries cut back their military spending - and of course there is a whole industry dedicated to keeping the military alive and kicking where it should be phased down...typically when a person suggests this an "expert" will normally pop up and explain how there is some kind of world-wide threat

Without petrodollar US economy will not stand for a month and to keep the petrodollar alive and enforced USA needs a big military budget for its killing machine.