Thursday, July 6, 2017

Cost of governments in America

Yes, there are many differences but the keen observation is the increasing dependency by a larger number of Americans and businesses on taxpayers.  Without increased economic growth, more working Americans and significant reduction in governments (local, state & federal) the present policies and directions are not sustainable.

The highlighted text below could well apply to America.

July 06, 2017

Situation Report

Egypt: Government Hikes Electricity Prices To Trim Deficit, Secure Global Finance

Cairo increased household electricity prices by up to 42 percent as part of a plan to tackle the deficit and placate the International Monetary Fund, Bloomberg reported July 6. The move, which follows a decision a week earlier to sharply increase fuel prices, is likely to create further tension among a population already struggling with soaring living costs. Egypt agreed to cut power subsidies and spending as part of a plan to secure a $12 billion International Monetary Fund lifeline that is regarded as vital to boosting the confidence of foreign investors. However, Egyptians have grown accustomed to the government's wide-reaching subsidy programs, which are being kept afloat largely by foreign aid. If the Egyptian government cannot find a way to sustain them, the country's fragile stability may not hold.

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