Both parties are responsible for this debacle.Īs our economy continues to contract, only the most “experimental” economists (“Keynesian” if you prefer) believe that increasing taxes will right the ship and increase wages and employment. This is third world territory, at least according to the International Monetary Fund (not one of my favorite sources, however). This is a GDP to national debt ratio of 1:1. In 1980, our national deficit was about $1T. Yet this is much more about the financial viability of the Republic as opposed to a political position. Our options are quickly diminishing but every scenario requires, at its very core, smaller government at every level. Property values continue to decline and taxes at all levels of government continue to decline.ĭeficits are unsustainable and will soon become unserviceable if we have any hope of retaining any semblance of dollar purchasing power. Short-term deflationary pressures will tip the hand of the Fed and debt monetization will become the norm. There is a virtual absence of any wage pricing power, predominantly due to the effects of globalization on a maturing economy and an education system that now ranks 14th in the world and getting worse. We are in the midst of a slow motion, economic dream sequence wherein a rapidly aging work force yields declining personal consumption. It does not store any personal data.Smaller is better…really…If there was ever a time to make a more compelling case for smaller government, this is it. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is used to store the user consent for the cookies in the category "Other. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly.
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