What are these guys [Obama and Romney] going to do about it?"We spend more on national defence than the next 17 largest countries combined," Bowles said. "That includes both Russia and China. I don't think that America can afford to be the world's policeman. When [former Chairman of the Joint Chiefs of Staff] Admiral Mullen was asked what the biggest national security danger was he didn't say 'terrorists'. He said deficit. America has a treaty with Taiwan that will protect Taiwan if it is invaded by the Chinese. There's just one problem with that.
as good but they are not. We are somewhere between 25th and 50th in outcome measures in infant mortality, life expectancy, preventable death. Healthcare is the biggest problem we face.
We have to borrow money from China to do it. ""We have the most inefficient, ineffective, globally anti competitive tax code any man could dream of," said Bowles. "The one we have today simply doesn't make sense. How can our nominal rates be so relatively high but get us so little money? We only get 1. 3 trillion in total income taxes. The reason is we have $1. 1 billion in back door spending in the tax code deductions and credits.
We recommend that we broaden the base and simplify the code and wipe ou.
Vice President, was among seven dissenting votes that scuppered the plan that has now returned as an election talking point. "If we can't get the people in Washington, in the administration and Congress on both sides of the aisle, to put aside this partisan politics then we face the most predictable economic crisis in history and also the most avoidable economic crisis in history," said Bowles. "There is no question that the fiscal path the country is on is unsustainable. This is a cancer that will destroy this country from within. "Bowles outlined what he and Simpson considered the five biggest fiscal challenges the United States faces:"We spend twice as much on healthcare as any other developed nation in the world," Bowles said. Puma Creepers Pink Oatmeal