Why We Have a Deficit

Here's why we have budget deficits.  Society is trying to support both the Industrial Age and the Information Age.

Yes, we need to cut spending.  Yes, we need to invest in infrastructure, thereby stimulating the economy.

The experts argue either cut spending or continue spending. Both sides don't get it.

The problem is that society, stuck between two economic eras, does not understand what to spend money on, and what to cut. 

The problem is exacerbated by the fact that the Industrial Age, and thus its components, are in decline. Here's an example. The government is funding construction or rebuilding of 10,000 highways, yet driving is in decline.  And since society does not really understand the Information Age, we are not "full speed" in the Information Age either.  

The question is not whether to cut spending, but what to spend money on. Here's my list:

CUT new highway construction, then all other road maintenance. SPEND on railroads, both passenger and freight.  CUT education spending on buildings.  SPEND on technology and teacher training. CUT spending on government buildings, and on company offices.  SPEND on health care.

Yes, raise retirement age to 70, reduce social security benefits, especially for the rich. Yes, raise taxes on the rich.  BUT what the experts don't get is that we cannot finance both the Industrial Age and the Information Age, and the Information Age is our only hope for prosperity.