Rochester, NY - Mark Zupan, the Dean of the University Of Rochester's Simon School Of Business, said Friday won't bring doomsday in Washington, but he said agencies are prepared to make cuts across the board.
Zupan said like many people, he's tired of hearing of hearing about this latest fiscal crisis, but he believes it will force government to finally make cuts to reduce our 16.5 trillion dollar deficit.
Zupan said, "We've seen a large increase in the debt/federal deficit and we have to come to grips with that, we're essentially running a Ponzi scheme on the next generation."
He said across the board cuts could impact everything from education and agriculture to energy and defense.
"People will have to start to worry about where do we postpone spending or not spend money... I think anything's fair game, whether it's subsidies for agriculture or energy."
The Dean Of The Simon School Of Business said the American people need to start holding our lawmakers more accountible.
He said he just returned to Singapore where policy makers are paid based on the Economic growth of the city. "The place is booming" Zupan said.
He said it's unproductive to talk about a fiscal crisis, threaten to make massive cuts , but then not deal with other issues affecting our economy, including rising gas prices and unemployment.