Go read THIS ARTICLE and then ask yourself the following questions:
- Have they prepared an INCOME – OUTGO = EXACTLY ZERO budget?
- Income has dropped considerably (OUTGO exceeds INCOME by $15.4 Billion). Has TOTAL OUTGO been cut?
- Does additional taxation stimulate or stifle investment and spending?
I have said it before, and I will say it again. A generation of folks is going to have to stand up and say "THIS IS CRAZY!" and slash the OUTGO in such a way that the budget balances with substantial payments being made to eliminate the national debt.
Let my generation be the generation that says that we will take it on the chin so that our children do not inherit a broke nation that owes every other nation on earth.