I can live with 19% revs/expenses.
That's not where we are heading though, especially since we haven't had a budget in 3+ years.
All households and yes even governments have to live by a budget and stick to it.
There have been budgets -- there just haven't been passed
. Not surprisingly, what passes the Congress is not really different than the President's budget.
I call this Congress Arguing Over the Cost of the Broom on the Firetruck
The US Congress has no interest in debating the cost of The Firetruck, and most importantly, how to pay for The Firetruck. They have their special interests to attend, even more so than the Executive Branch. There are 535 of those idiots.
It will take the rest of the decade to 'eat' the financial disaster (let's at least, hope).
The Gov't revs/expenses and debt will begin working out starting 01.01.2013 with $5-6 trillion on the table over the next 10 years. It's a start.
The gosh darn (you know what I mean) problems are the banks and the Fed. A single JPMorgan transaction 'blows up' $2+ billion on a proprietary trade, and the CEO says, "No big deal."
While the Fed loans these Banking Clowns trillions of dollars at 0.02%, on collateral backed by navel lint.