The national debt.
The national debt of the USA and Australia stands close to 100% of annual GDP (Gross Domestic Product) That represents about 15 years of debt repayment.

To payoff our debts in 15 years is a bit optimistic because, in that time, we are facing enormous new debts..
1. The future costs of health care for the 'Baby boomers' and the Obesity epidemic.
2. The future costs of repairing an aging civil infrastructure. (Bridges, Dams, Piping, Highways)
3. The future costs of increasingly severe Natural Disasters. (Like one Katrina every year!)
4. The enormous costs of even a modest rise in ocean levels.
5. The extreme costs of defense against Terror attacks and our war against Drugs.
These impending debts will possibly triple our already massive debt.
Our ability to repay this Debt will also be compromised by the impending decline in the National Average Wage. (See menu article)

White collar Off-shoring..
As the entire Garment Industry found out..You can't compete with workers who outnumber you four to one and who will work for a third of your wages!

Today, employment agencies are noticing an alarming out-flow of white-collar jobs to Asia. (mostly India) With the advent of broadband and "Log In" software, entire departments (accounts, programming, back-office) can be off-shored for a third the wages.
A typical 'board room' quote.. "Productivity is up and the quality of the work has improved. Our wages and office space have halved. We can interact with our Indian staff as easily as if they were in the same room! We can even watch them type."
Trade Unions all over the western world are describing this rapidly growing trend as an impending disaster that will keep our unemployment high and force our average wages to slowly decline.
Declining wages and tax revenue will obviously impede our ability to quickly repay our enormous national debt.

The "Wealth Cycle" to the rescue..
Our National Debt could be paid off in a third the time if some simple re-investment principles were enforced.
Any country can quickly amass incredible wealth (or quickly payoff an incredible debt) if the whole population works productively and the majority of the dollars so earned are re-invested back into that production. This ideal cycle is rarely achieved because the 'majority of the dollars' are not re-invested, they are taken OUT of the cycle and invested in Greed Bubbles, personal bonuses and Castles in the sands of Dubai. Only a small percentage is retained to fuel the production cycle.

We will invoke a state of fiscal emergency lasting five years or as long as it takes to reduce the national debt to a manageable 20% of GDP.
Our Wall Streets and large Production companies will be regulated as though they were in the hands of receivers. (which some of them deserve to be) The intent of the regulations will be to ensure the majority of 'Net Profit' is re-invested in the businesses it came from, not sent to the Cayman Islands.
Some of the emergency regulations..
• The new Prices Justification Commission (PJC) will control executive salaries, bonuses and directors fees.
• The PJC will also control component costs, equipment prices, legal & insurance costs, royalties. It is currently not illegal to charge $1000 for a $10 component.
• The majority of Tax Avoidance schemes will be closed. Offshore Directors fees will be limited to a few percent of Taxable Income. It is currently not illegal to register your grandmother as a 'Cayman Island' director of your company and send millions of dollars in tax deductible fees to that bank account.

The aim of these policies is to quickly pay back our burdensome national debt and become a Lending Nation instead of a Borrowing nation.