Saturday, December 22, 2012
Economist, Veronique de Rugy - To the Democrats
a) We can't tax our way out of the deficit (government, no matter what the tax-rates, has never been able to consistently tax its way to over 21% of GDP) and b) Medicare and Medicaid are the major drivers of future debt and to ignore them is plainly suicidal.
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3 comments:
Talking to dEmocrats? Good luck, they live in a vacuum.
Yes Will: I agree. The President moved closer to Senator Schumer's compromise on marginal tax rates....The President has put some entitlement spending on the table, like cutting the COLA in Social Security. Truth be known there has not been enough give on either side to make a meaningful deal soooo over the cliff we go and with what's left of my devastated 401K...
The Democrats' sacred cow is entitlements and the Republicans' sacred cow is defense (de Rugy went on to say that the U.S. spends 48% of the world's total outlays) and until we look at a meaningful reform of BOTH, I agree with you, time to buy that silver.
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