"So Nobody Is Going to Pay Taxes Now?"

[jknowgood]

Educating children is a public good. You benefit from the education others receive. If you can't see that, you are more foolish than even I thought.

Say, I don't want to pay for the roads in your state. I never use them.

I don't know how old you are, but these indoctrinated kids are going to be making the laws soon. I don't want that.

 

[Greenbeard]

Hopefully fiscal sanity becomes a major political issue as we get closer to the day when SSA checks take a big hit.

The coming automatic spending cuts are the fiscal sanity.

 

[task0778]

The coming automatic spending cuts are the fiscal sanity.

Not to engage in a semantics contest, but I see the auto cuts as fiscal reality that will hammer a lot of seniors and the disabled. The sanity part revolves around what the gov't does about it. No doubt that are numerous ways this could go when the times come, but I see 3 basic avenues. First, they do nothing and the cuts happen. Highly unlikely cuz that is political suicide. Second, they pass legislation that addresses the problem, probably in several ways. Third, they pass some kind of Continuing Resolution (CR) like they do now to keep the gov't running, except now we're talking about a temporary fix that allows the General Fund to cover the SSA Trust Fund shortfalls. Which would get extended every year.

Right now, option 3 seems to be the most likely. It is also fiscal insanity cuz all we're doing is adding more debt and hastening the day when the shit hits the fan, meaning that the interest rates on gov't securities will get so high as to be unsustainable.