We've seen it all before: An artificial "crisis" designed to anesthetize the public from yet another round of political expediency by kicking the can further down the road. There will be a great deal of smoke (and mirrors), but very little fire when it comes to reforming our unsustainable deficit situation.
Alas, any increases in taxes and/or tweaks in future entitlements are mere drops in the bucket compared with our looming financial liabilities. There are only two ways out of this mess, and we will need both of them: Economic growth (i.e., private sector jobs) and inflation. In order to avoid impending disaster we must agree on two principles:
1. The primary objective of tax policy should be to maximize long term net revenue. This means we must encourage new job creation in order to shift as many people as possible from being tax consumers to tax payers.
2. We cannot afford to increase any per capita entitlement spending until we are able to balance the federal budget. Economic growth and inflation will make this happen sooner rather than later, but we need to put people on notice that there will be no entitlement increases for a substantial period and that they should plan accordingly.
No hidden agenda here; just stark reality as I see it. Do you agree or disagree? If you disagree, what is your plan?
Alas, any increases in taxes and/or tweaks in future entitlements are mere drops in the bucket compared with our looming financial liabilities. There are only two ways out of this mess, and we will need both of them: Economic growth (i.e., private sector jobs) and inflation. In order to avoid impending disaster we must agree on two principles:
1. The primary objective of tax policy should be to maximize long term net revenue. This means we must encourage new job creation in order to shift as many people as possible from being tax consumers to tax payers.
2. We cannot afford to increase any per capita entitlement spending until we are able to balance the federal budget. Economic growth and inflation will make this happen sooner rather than later, but we need to put people on notice that there will be no entitlement increases for a substantial period and that they should plan accordingly.
No hidden agenda here; just stark reality as I see it. Do you agree or disagree? If you disagree, what is your plan?