Grant S. Cooper, Jr.

The current budget talks are stalled again in a quagmire of political paralysis over how to address the federal deficit and revenues with no compromise in sight. Yes, a stop gap measure will be passed. The “status quo” is still the norm with no real honesty, transparency, or true dialogue with the public about the nature of the crisis. The Social Security Trust Fund ran a deficit in 2011 and 2012, and its reserves are not fully funded as everyone believes they are. Plus, the Federal Reserve is buying U.S. debt through “quantitative easing” which is really the Federal Reserve buying back its own debt to infuse more money into the economy. The deficit and interest to support it continue to grow. A quick summary of the federal deficit are given in summary: