Faced with a huge 1.5 trillion dollar deficit American politicians have been trying to come up with budget cuts and avert a government shut down. After much huffing and puffing they agreed to a $38 billion cut. Theres's much discussion in the blogosphere on the worth of these reductions. In my view theres only one real important question to ask_ Will the cuts return the budget to surplus in a reasonable period, say five years? If the answer is no , then its a failure. Certainly Peter Schiff is not very happy. Might be a good time to buy precious metals.