Conquer Fiscal Cliff

Failure of a bipartisan committee to agree on budgetary cuts two years ago  was the  starting point    for the fiscal cliff. Unless Congress acts soon, there will be $607 billion net of tax increase and spending cuts automatically. It will only  be the beginning of austerity  programs   in the USA—more tax increases and  large  reduction in expenses   will happen in the next 10 years. Real cause of the fiscal cliff is excessive spending by Washington . According   to  the Office of Management and Budget, since 2000, total  federal  spending  has  increased  by 62% faster  than  inflation. We had total  outlay of $2.30 Trillion in 2000 and we had approximately $3.7 trillion in 2010. We see that total spending increased by $1.4 trillion in 10 years.   Here are the facts.  We had a net national debt before the recession of $6 trillion and today it's        $16  trillion. Our debt   held outside the US  is   45 %   of    our       total  .     China    alone   has  loaned about  $1 trillion of the money. Over the next 4 years, that debt grows to $20 trillion in 2016! Ten years from now our interest bill alone will be  a trillion dollars a year.