I agree with every word, Rangertab1.
Our problem is this - we
may still have room to make choices and time to accomplish an orderly transition.
If the U.S. finds itself in a position where we cannot continue to pile our debts even higher - and we may - then we will have to support ourselves on tax revenue alone. That means shortfalls on the order of $700 billion per year or more. (
LINK to CBO projections ). This suggests the possibility of a sudden, painful, and disorderly transition.
My opinion: we won't make the hard choices. We'll put if off until a train wreck is inescapable.
So now I'm frightening those with sensitive natures, and generally making a nuisance of myself. Time to grab a handful of appetizers and drift toward the door.
