>
> But imminent police state or national insolvency in a few years? Those are
> irrational conclusions, even if they may arise from rational concerns.
That's a fair point. I think in the case of insolvency, however, that
it's not unfounded. Here's why:
Won and I were talking about this and he mentioned that if the US were
in that much trouble the International Monetary Fund would step in.
Well, what he didn't know, was that the IMF has begun to do just that;
in January they sent a letter to the US warning that we were heading
towards insolvency.
So, to that point, it is a fact not just fear mongering. This is why
Mr. Bush's reckless spending has been so disturbing to fiscal
conservatives. His non-defense, non-security spending increases has
been at twice the rate of Mr. Clinton's, 8%. He's on tracking to be
the only president to never veto a spending bill.
It is a fact that if the US were to start today to fund our
liabilities we'd have to raise taxes by 16% and cut benefits by 15%.
By 2020, if we continue on the same path, those figures are tax
increases of 50% and benefit cuts of 60%.
Those benefits include Medicaid which is the catastrophic health
insurance. So, 15 years from now, who's not getting chemotherapy or a
heart stint? That's the problem.
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