Ladies and gentlemen, the math is crystal clear.
For the last 30 years or so the federal government, Republicans and Democrats alike, have been making promises that we can’t possibly keep.
At last count, we have $60 trillion (trillion with a “T”) in unfunded entitlement liabilities on our books.
At the state level, our entitlement liabilities are less transparent (and vary from state to state) but are considered as equally devastating to our generational bottom line as what’s been done in Washington. Again, this isn’t news:
So, how bad is it?
It’s so bad that anyone who tries to tell you that we can fix this problem without tax increases on everyone – including “the rich” and including those 45% of households that currently pay no federal income tax at all – is either lying to you or doesn’t know what they’re talking about.
It’s so bad that we’re going to end up having to break promises that millions of Americans currently depend on for their daily bread and shelter.
Because the reality is that our books are so bad that they represent a clear and present danger to our ship of state. Believe it.
So if you want to get mad, get mad at a 30 year failure of political leadership in this country. Get mad at the status quo industrial complex, their mouthpieces and consultants. And get mad at yourself for believing that there is such a thing as a free lunch.
But once you’ve done that, let’s all try to move beyond 20th century talking points and work together to start crafting a 21st century solution.
Otherwise the next 20 years are really going to suck. Not just the next 5.