Subscribe/RSSThe federal government is issuing debt faster than mortgage lenders giving out “no qualifying (liars) loans” . There is no plan to pay it back. The inevitable result – higher taxes. Count on this – sooner than later. It is the only solution they will be able to come up with. I guess that is the plan.
Unfortunately, higher taxes will exasperate the economic decline, just as it did in the 30’s, helping to turn what may have been just a severe and prolonged recession into The Great Depression.
You can debate the future as inflation and depression all you want. But don’t debate higher taxes or not. They are coming and the biggest increases will be to the most successful individuals.
Higher taxes will likely stifle business expansion (or kill off some small businesses) and individual incentives to create and produce.
1960’s saying – “You are either part of the problem or part of the solution.” Spend and tax is not part of the solution, it is part of the problem.
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