The debt hawks are to economics as the creationists are to biology.
Politicians continue to worry about the size of the federal debt:
“The president knows that Republicans support extending unemployment insurance, and doing it in a fiscally responsible way by cutting spending elsewhere in the $3 trillion federal budget,” said Representative John A. Boehner of Ohio. “At what point do we pivot and start being concerned about our children and our grandchildren?” said Senator Mitch McConnell of Kentucky.
I will pay $1,000 to the first person (including you, Representative Boehner) who can demonstrate why the U.S. federal government will be unable to service its debts.
Wait, I’ll make it even easier. I’ll pay $1,000 to the first person (including you, Senator McConnell) who can demonstrate why the U.S. federal government will be unable to pay its debts, even if all taxes and all federal T-securities were eliminated. And I’ll throw in an extra $1,000 if you can show how the U.S. taxpayer and/or taxpayers’ grandchildren owe the federal debt.
Readers, please feel free to pass this on to your political representatives. I have my checkbook in hand.
Rodger Malcolm Mitchell
No nation can tax itself into prosperity