Herman Cain Explains America's Fiscal Problem

Yesterday, the Herman Cain website published an article on the fiscal problem facing America. It is a good explanation, not only of America's but also of Europe's situation.
You can find the article in its entirety at www.hermancain.com.
To summarize the article:
1. America has more than $14 trillion in debt and upwards of $60 trillion in unfunded entitlement mandates, and the budget deficit is growing by $1 Trillion each year. 
2. Solving the fiscal problem is critical and it must be started now, and that requires presidential leadership, which Cain says Obama completely lacks.
3. The solution is two-pronged - first, begin budget cuts now, and second, stimulate economic growth.
4. To do these two things, the government must cut spending in a real way, not just by promising "future cuts" that will probably never materialize, and not by sticking to its belief that the only way back to economic growth is through government spending - a Keynesian idea that makes most governments run around in the non-productive circle of spending in bad times to create good times and spending in good times because the money's there. Result? No budget cuts, ever, and bigger and bigger deficits.
5. There is now sufficient money in the hands of individual Americans and corporations to generate economic growth by product / services demand and job creation, but neither individuals nor corporations are spending because they are unsure about the future...will there be new taxes, will regulation continue to increase and choke off corporate expansion, will more and more money be drained from the American economy to fund welfare?
6. Until presidential leadership takes control of the "cut spending and create an environment for economic growth" agenda, America will sink deeper and deeper into debt. That is why this election is so important. 
Of course, the 9-9-9 program is mentioned, and Cain obviously thinks he the best candidate. Maybe he is...time will tell if the Republican faithful believe him.
But, the fiscal analysis is correct. The solution is spelled out. It is now time to find a leader to get on with doing the job.
And, Europe should take the same lesson to heart, because America and Europe are on the same boat and on the same paths. Europe is just more to the front of the boat this time, and not for the good.