It’s pretty hard to grasp and embrace the concept of tipping point, especially for conservatives, but the story here is simply that there are some problems that cannot be solved.
We cannot cut taxes and cut the deficit. That raises the deficit — because we are past the tipping point. We can’t grow the economy anymore, regardless of tax rates. Taxes aren’t decisive anymore.
We cannot cut spending and cut the deficit for the extrapolated reason. Government spending is such a big part of GDP now that cutting spending would cut GDP and that would cut tax revenue and presto, bigger deficit.
This is what it means to be past the tipping point. There is no solution.
But a step past all that for a moment — these chained CPI adjustments to SS. Let’s make DAMN SURE it applies to ALL government retirement pensions, too, including Congress and Presidents and Judges and any other bureaucrat.
Signing off here.
“Government spending is such a big part of GDP now that cutting spending would cut GDP and that would cut tax revenue and presto, bigger deficit.”
So, you’re a Keynesian?