While Discussing America's Debt Problem...

While discussing the bailout package...

The nation's real tab, on the other hand, amounted to $53 trillion as of the end of the last fiscal year. That was the sum of our public debt; accrued civilian and military retirement benefits; unfunded, promised Social Security and Medicare benefits; and other financial obligations -- all according to the government's most recent financial statement of September 30, 2007.

Since we're going to have to save ourselves, recent events could hardly be called encouraging. It took an additional $100 billion in incentives -- some would call them "sweeteners;" others might call them bribes -- to get lawmakers to pass the rescue package.

Let's face it -- the regular order in Washington is broken. We must move beyond crisis management approaches and start to address some of the key fiscal and other challenges facing this country if we want our future to be better than our past.

It looks like a few people get it. I wonder about the impacts to our country given the same issue brought-up in this commentary. Really, it took how long and the politicians just don't understand what they are passing laws to regulate and protect. It seems like a system that could use some new talent. Lets send some people to DC who have some expertise other than politics. Perhaps an engineer or two, an economist, etc. Some people with some real problem solving skills, the ability to put politics aside, and get some work done.

Tags: Business