It may not be possible to get the federal budget into balance. This means very rapid inflation and Soviet Union-style devolution may be in our future.
On the other hand, there is no use trying to fix the budget problem without reforming the entitlements. I do not mean cutting them, but privatizing them. Turning them into defined contribution plans, funding what obligations people are currently entitled to, and taking them out of politics. If we can get entitlement programs off the table, then the effort we will have to go through to put the country’s fiscal house into order will be worthwhile.
If we do not reform the entitlement programs, then any success we have in getting through the current mess will be fleeting. We will soon again be faced with the same problem, only it will probably be larger.
Since 2007, I have been thinking the chances are very low of salvaging the country. Congradulations, George W. Bush, Dick Cheney, Ted Stevens and Tom DeLay. You guys got yours when while you could. Now, it looks like it’s every man for him- or herself.
Now, it looks like it’s every man for him- or herself . Fine with me . At least i won’t feel guilty when the whining begins . Help the helpless not the clueless .