Spending

'The euro zone has at least admitted that spending a lot more than you earn is unsustainable. Not so the United States.

For graphic and painful evidence, look at the mother of all PowerPoint presentations – the nearly 500-page "USA Inc." report prepared last month by Mary Meeker, the former Morgan Stanley analyst who was dubbed "Queen of the Net" in the mid-1990s, when she predicted that the World Wide Web would take over the planet. She is now a partner at venture capital powerhouse KPCB and her report analyzes the United States as if it were a corporation.

Her picture is compelling, and not pretty. U.S. spending is going from the excessive to the obscene.'

http://www.theglobeandmail.com/report-on-business/commentary/eric-reguly/rampant-spending-has-put-us-in-dire-financial-shape/article1963695/