That news is especially scary considering the context of 1) steady and massive increase in Social Security payments due - MORE $ PRINTED / INFLATION, 2) impeding peak oil production and consumption - HIGHER COSTS, 3) potentially necessary investments in disconnected conflict regions such as North Korea, Japan, Afghanistan, Pakistan, African Nations, perhaps even Mexico, - INCREASED EXPENDITURES and 4) growing pressure to replace the dollar as the primary international reserve currency - DROPPING $ VALUE, DECREASED MARKET INFLUENCE, INCREASED SECURITY COSTS?.Silver Lining: The socio-economic environment is more attuned to powerful, scalable solutions. Web-based innovation, collaboration and prosumer empowerment is being encouraged by the market. Sort-term creative destruction can expand and fertilized the phase space for rapid innovation.
Though it will add to short-term national exposure to risk, Obama's pledge to bring science spending (essentially a U.S. R&D and human development investment) is the the main counter to massive spending. It's the Great American Bet and will determine our national role in the near-term future world.
Thanks to poly sci prof David Mason at End of the American Century for the info. Be sure to check out his analysis.
