Mary Meeker’s Definitive Guide To The American Public Debt Crisis

mary meeker

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Kleiner Perkins partner Mary Meeker analyses America as a corporation in an epic presentation: USA Inc.: A Basic Summary of America’s Financial Statements (pdf).Meeker says USA Inc. is on a parallel course to GM before its bankruptcy.

Only through drastic cost-cutting can our country bounce back — like GM has done in the past two years.

Here are some key slides from her definitive report:

  • Spending as a per cent of GDP rose 3 per cent each year from 1790 and 1930. Worse: It rose to 24% in 2010.
  • Here’s a great breakdown of America’s biggest costs.
  • Debt levels will be three times current levels by 2030. Entitlements and interest alone will exceed total revenue by 2025.
  • Only 1 in 50 Americans needed Medicaid when it was first created in 1965, 1 in 6 Americans receives Medicaid now.
  • Extended unemployment benefits could set back America Inc. $34 billion in the next two years alone.
  • The only good investments: technology, education and infrastructure.
  • The crucial reforms: entitlement and tax policies
  • There is no quick-fix to America’s deficit problem. While raising taxes could help, the only real solution is cutting costs.
  • Why we should cut Medicare benefits by 53%
  • Why we should increase the retirement age to 73 or cut Social Security benefits by 12%.

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