I had to laugh at this wire story headlined "Republicans agree that debt is U.S. security threat" -- to which my answer is, "Then stop spending so much money!" The current Republican and Democratic establishment in Washington would not know frugality if it hit them in the face. Even breakthroughs in Federal strategic sourcing practices will do little to make a dent in the U.S. national debt if savings do not drop to the bottom line and we reduce the Federal budget as a result. But the challenge, after all, is that this is the Federal government -- which views its purpose in life to spend money. After all, if you don't use your budget, then you lose it.
Regardless of who wins the Presidential and congressional elections next year, let's hope they bring with them fiscal discipline to reduce the U.S. budget deficit (and pay down mistakes of the past). After all, with falling short-term interest rates, the dollar will only drop further if no one wants to purchase our debt. It's a cycle that must be stopped -- just like the spendthrift tendencies of the Feds. Taken one step further, John McCain says it best: "Any nation that no longer has economic strength sooner or later will lose its military strength, so it's a national security issue." So get to work, Senator, and start cutting. Otherwise I'll be saving for my kids' college education in Euros and RMB.