Marc Faber on How to tackle the U.S. budget deficit

Dr Marc Faber, editor & publisher of "The Gloom, Boom & Doom Report", was today interviewed by CNBC about the American budget deficit he offers his views on how to tackle the U.S. budget deficit, as well as how that is affecting his U.S. investment strategy. " I do not think that it is possible to reduce the deficit meaningfully unless you increase taxation significantly and unless you cut spending meaningfully , and there fore having the Democrats on one side o the Aisle and the Republicans on the other I do not believe that they will compromise , i think the debt ceiling will be increased yes , but I think the deficit will stay around minimum one and half trillion dollars for the foreseeable future "