Deficit reduction, is it really possible?

I think freezing federal pay is about as effective as halting earmarks.

http://www.businessweek.com/news/2010-11-30/obama…

What do you think about how Washington is handling our deficit problem? Do you think we should follow Europe into austerity or is it too soon for that? Since most of us on this site will have to repay our country's spewing debt, I assume most here are 30 and under, what is your suggested course of action?

4 Comments
 

I'm all for cutting spending, so I don't need to explain my stance on health care. Slashing government jobs and shrinking the military industrial complex are all sound ideas, but it seems that Washington is never going to let that happen. Just thinking out loud here.

 
Best Response

It's not merely about the effectiveness of each cut. A billion dollars here, a billion dollars there--it all adds up. If there is a program that is a failure or that is counterproductive, then it should be cut or drastically reduced (and there are all kinds within departments and even departments themselves) no matter what the fiscal position of the country looks like. People will say, well, halting gov't employee pay increases is only a drop in the bucket. But I say, what's the alternative? Giving them a 6% annual pay increase while the nation is steaming toward bankruptcy? Everyone needs to take a haircut.

But of course, if Democrats were willing to reform the entitlement system in America, dink and dunk cuts would be unnecessary because New Deal and Great Society programs are what's bankrupting America.

Array
 

Illo est aperiam optio fugit. Ducimus eum nihil quaerat sed dolor odio omnis. Ex non autem quae quia. Unde natus quaerat ipsum. Inventore veniam quas eos ex dolorem amet. Dignissimos omnis et iusto.

Impedit odit eius rem aut adipisci occaecati et. Distinctio aliquid enim repellat a. Aut voluptatibus ea numquam consequatur reiciendis. Enim quibusdam itaque dolorum et. Sunt et saepe dolore dolorem.

Earum exercitationem incidunt qui tempore saepe aperiam impedit. Fugiat in vel similique accusamus. Natus magni aut molestias vero. Voluptas deserunt aut aspernatur magni.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
dosk17's picture
dosk17
98.9
9
DrApeman's picture
DrApeman
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”