Old Rocks
Diamond Member
A large part of the increase in debt is structural - entitlement and public employee comp & benefit increases that are on auto-pilot. Both parties are to blame for this - it's a Bi-Partisan "accomplishment". The current crisis in Greece is a warning we should take seriously about financing spending with massive amounts of sovereign debt. Better to restructure now while we still have some time.
Agreed. You cut my Medicare and Social Security, you had better damn well put a tax on the upper income that exceeds mine by percentage. As Buffet pointed out, he pays at the rate of 17%, while his receptionist pays over 30%.