The View From 1776
Friday, September 19, 2008
Democrat/Socialists still have their heads buried in the sand, assuming that, if they ignore it, the looming Federal bankruptcy will go away.
New York Times propagandist Paul Krugman today, and leaders of the Democrat/Socialist Party since Ronald Reagan’s presidency, have dismissed and opposed every prudent effort to confront realistically the ballooning unfunded obligations of the Federal government.
When President Reagan, after verbal assurances of cooperation from House Speaker Tip O’Neill, proposed measures to put Social Security on a sounder financial footing, the Democrat/Socialists double-crossed him. Liberal-progressives went public with the charge that President Reagan was going to take Social Security benefits away from the elderly. Ever since, Social Security has been known as the third-rail of politics; touch it and you will be electrocuted.
Liberal-progressives profess to believe that we will be able to “cure” the problem in the future by again raising taxes. That won’t be so easy.
Read Laurence J. Kotlikoff’s Going Bust?