From Fred Wilson’s blog, A VC:
We have tax revenues that do not cover our spending. And we don’t have the will to cut our spending. And in many cases, we cannot afford to cut our spending. We should not cut our spending on infrastructure, we should increase it. We should not cut our spending on finding cleaner and smarter forms of energy, we should increase it. We should not cut our spending on education, we should increase it. We should not live with the terrible health care system we currently have, we should fix it. And we continue to spend money on things like tax breaks for oil companies and subsidies for farmers that mystify me and most Americans. And we spend a lot of money fighting vices like drugs, prostitution, and gambling when we should simply legalize them, tax them, and regulate them and turn them into a profit center.
[…] We need to get our house in order, play in this global economy with a stable and sustainable business model. And we don’t have that now. And we must get it in place soon.