I wonder where the tipping point is. Mitt Romney and the Republicans say we must cut spending but not raise taxes. They don’t propose nearly enough spending cuts to balance the budget or reduce the debt, and it is folly to believe we will grow ourselves out of these financial problems. President Barack Obama and the Democrats say we must raise taxes but not cut spending much at all. They propose higher taxes that are not nearly large enough and not imposed on enough Americans to balance the budget or reduce the debt. It is folly to believe we will be able to tax ourselves out of these financial problems.
Both parties and our members of Congress recognize that the debt and deficit problems have become so unwieldy that it is best (for them) to play politics with them rather than offer real solutions, which would be highly unpopular. It took me awhile to understand the game, but I do understand it now. I wonder how bad it is going to have to get in this very large and prosperous nation for enough Americans to demand that the shell game stops. Unfortunately, I am afraid I am going to be here to find out.