Rocky Vega

Erskine Bowles, President of UNC, and former Wyoming Senator, Alan Simpson, the co-chairmen of President Obama’s National Commission on Fiscal Responsibility and Reform, are getting political leaders caught up with the obvious reality of the US’ precarious financial state… that the budget deficit is quickly hurtling the nation toward a debt crisis not unlike Greece, but on a much larger scale.

Yet, even with annual interest payments alone already totaling roughly $200 billion, there is little political will to make the kind of cuts necessary to have an impact on the deficit. Policy makers and citizens alike want action to be taken, but the required sense of taking personal responsibility — with fewer public services, higher taxes, or reduced welfare — is still lacking.

This cartoon came to our attention via The Mess That Greenspan Made’s post on the appearance of getting something done.

Rocky Vega

Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let?s Go Publications, Harvard Student Agencies, and The Harvard Advocate.

Recent Articles

The “Buy Signal” Insiders Don’t Want You to Know About

Paul Mampilly

With so many "sure-fire" investment strategies, it's difficult to know which will work. But according to investment expert Paul Mampilly, there is one thing you can always count: the insiders always save the biggest gains for themselves. Luckily, he's developed a system that allows you to tap into these kinds of "insider gains" for yourself. Read on...


Forget Alibaba: China’s Growth Story No One’s Talking About

Byron King

While everyone's been distracted by the Alibaba IPO, there's another growth story coming out of China that could have much greater implications. In fact, this threat was recently declassified by the Senate and confirms what some - including Byron King - have suspected for years. Today he relays this threat, and what it could mean for your portfolio...


Laissez Faire
How to Cash-In On Thomas Edison’s Secret Energy War

Chris Campbell

Over a century ago, two men waged a hidden war that would decide the fate of America's energy future. Unfortunately the winning side helped create the awful energy monopolies that plague the U.S. today. Now the "good guys" are making a comeback, and that could make a few investors very, very rich. Chris Campbell has the full story...


A Simple Way to Navigate the Ugly Start to Fall Trading

Greg Guenthner

Yesterday wasn't a good day in the markets. Even the "August rally" in small caps was a distant memory, and nearly 80% of all stocks on major exchanges ending the day in the red. How are investors supposed to navigate all this craziness? Greg Guenthner offers one strategy that can help. Read on...


Addison Wiggin
Profit from Global Warming, Even if You Don’t Believe In It

Addison Wiggin

Global warming is one of the most debated subjects of the last few years. But regardless of whether you're a "true believer" or a merely an unconvinced skeptic, there are significant ways to make serious money from this controversial topic. Today, Addison Wiggin brings you three of them. Read on...