Academic

DEBT IS A CANCER: ?The commission leaders said that, at present, federal revenues are fully consume?

By Glenn Reynolds

DEBT IS A CANCER: “The commission leaders said that, at present, federal revenues are fully consumed by just three programs: Social Security, Medicare and Medicaid. ‘The rest of the federal government, including fighting two wars, homeland security, education, art, culture, you name it, veterans — the whole rest of the discretionary budget is being financed by China and other countries,’ Simpson said.”

The only solution is drastic cuts in Social Security, Medicare, and Medicaid, then, until they’re taking up something significantly less than the entirety of federal revenues. Ya know? But I think the whole point of the commission is to give political cover to tax increases, even though the problem they’re describing is much, much bigger than that.

UPDATE: A reader asks if this debt-as-cancer thing makes Congress the equivalent of Big Tobacco. Worse: Big Tobacco had to persuade you to smoke.

ANOTHER UPDATE: Tucson Tea Party founder Robert Mayer emails:

Just saw your comment.. “But I think the whole point of the commission is to give political cover to tax increases, even though the problem they?re describing is much, much bigger than that.”

Our local government in Tucson did the same thing. $42 million dollar structural deficit? Well, let’s set up a commission with two appointees from each council member to study the issue and how to solve it. Result?… Put a new .5% sales tax increase on the ballot! Great solution! Luckily, we will actually have the opportunity to vote it down. This federal budget commission will simply recommend the tax increases and they’ll just be passed. Of course, that’s assuming there are people in Congress willing to pass a tax increase… November can’t come any sooner….

Indeed.

Full post as published by Instapundit.com on July 12, 2010 (boomark / email).