DEBT AND ENTITLEMENT BUBBLES: Pensions Push Property Taxes Higher - WSJ.com
It's interesting how unions are all 'gimme, gimme, gimme' with no thought for long-term sustainability.
Clearly the US needs to invest in its future, not sell off the proverbial family silver to pay for current consumption.
As for the 9 innings it will probably take to truly turn the US economy around, it would appear to clearly be stuck in Inning 3 - where government hopes that it can keep squeezing more cash (taxes or borrowing) to pay for current entitlement and social consumption and continue to put off both investment into new and the replacement of worn-out or depreciated economic necessities for growth.
Clearly the debt bubble that is building is tied to the entitlement bubble. Since they are both growing bigger....
Friday, December 24, 2010
Subscribe to:
Post Comments (Atom)
We need to grow our way out via massive job creation. The cheapest and easiest way to create jobs in America today is to eliminate the corporate income tax.
ReplyDeleteThe US Corporate Income Tax could not be hurting the average American worker anymore than it is doing right now. It decreases wages, sends new jobs overseas, raises the prices on all goods and services and is going to bust many of our nation's largest defined benefit pension plans. www.eliminatecorporateincometax.com