All the progressive kids who have moved back in with their parents because they cannot afford a similar lifestyle, wail:”It’s not fair!”
There are a lot of poor Democrat voters who are expecting fairness in the form of nationalization of the oil companies and subsidized gasoline, too. Not to mention a huge COLA and free food stamps, along with free health insurance, which most of them already have via Medicaid.
I cannot wait to hear them respond to the new regime. Of course, they will continue to vote D. I wonder if they will have to declare taxpayers an Endangered Species?
I am beyond expecting any rationality in this country.
Indeed, I believe you are correct. The easy credit economy has created unstustainable national debt, PERIOD. Foreigners were funding a hefty portion of public debt but have moved on due to the instability of our financial system and into commodities. The government’s remedy to this is taxation without representation in the form of inflation which is the FED, appointed officials NOT elected. Add the $14 trillion debt and the forecasted costs of SS & Medicare for the boomers over the next decade of $18 trillion.
The Democrats proposed way to pay for this is socialism or wealth redistribution through taxation. It is a collective punishment for the responsible. Socialism does work temporarily and Obama would be touted as short-term savior but the cracks of the damn would multiply many fold in a three or four year span and he would not be re-elected.
My solution would be to declare energy independence as a national security priority, subsidizing hundreds of billions into the effort. This would help create millions of permanent jobs which add to the tax base. Also, America could become an exporter of the raw materials which also makes shipping agriculture and metals (things which the global consumer actually needs) less expensive. It would create a massive global investment opportunity, particularly if it was backed by Treasury and this would fix a good portion of the financial sector. It would deflate the commodities bubble. This would create trillions of dollars of new wealth over time. The citizens of this nation are seeing a declining quality of life. I do not see a way to minimize this in the short term and feel we will go over the cliff and be 10 feet from earth before we open this parachute.