Federal Fiscal Sanity, Proposing Cuts, and Predicting Downfall

First Budget Surplus in Over a Decade...

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For more than 50 years, the federal debt of the United States has been growing at a rate that cannot be sustained. This has happened under Republican and Democrat administrations. Over the same period, Switzerland relied on debt-braking mechanisms at all levels to reduce and stabilize debt burdens. Swiss fiscal rules are incorporated in their constitution to limit government spending, taxes, and debt. The debt brake was included in the Swiss Constitution at the federal level through a referendum held in 2001. This referendum received support from 85 percent of the electorate. The debt break allowed the Swiss Federal Government to reduce the ratio of national debt to income by about half since 2001.

AT&T service cut in major US cities. According to Downdetector, tens of thousands of AT&T users have reported outages today for their mobile, home, and internet services.

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