And this mentality is why nothing ever gets cut. No one wants to take responsibility and accept the consequences.
That is ending because of circumstances. Regardless of what tax rates are, the historical average of receipts is about 18 1/2 % of GDP - that is an undeniable fact. So, with fluctuations to that notwithstanding, a trillion dollar deficit CANNOT...WILL NOT be overcome by adjusting marginal tax rates (however good that makes liberals feel about making the rich pay "a little more" in order to get to "their fair share").
So, when the trillion dollars (per year, not over 10 years, liberals) doesn't magically appear, what to do next? They will cut the DOD to the bone. That will yield another trillion (maybe 2 trillion, but over 10 years again, not in a single year) - so how to get the $700 to $800 billion (per year) they need to maintain current levels of domestic spending? Continue to borrow and blame the rich for not paying enough and the DOD for spending too much money (money they think is wasted, despite being one of the few constitutionally mandated functions of the federal government).
This post was edited on 11/15 at 11:58 am