Published government records show that for 2011 and now 2012, mandatory spending on just Social Security, Medicare, and national debt interest due has exceeded total U.S. government income by well over a billion dollars. If government income keeps this same pace in 2013, shutting off ALL other government spending would still force America to borrow money. The U.S. has to borrow money to fund everything it does except for the above non-discretionary expenditures.
Economic prosperity for everybody creates a volume of tax collections that always out-performs the collections possible from the rich few in an economic depression. The government doesn’t have to kiss the bum of the few to keep them friendly, either. That is the historic requirement of government begging in economic hard times.
History testifies to two general solutions for such national insolvency. The entire population must push each other to produce more than they consume. Or they must obliviously go to war for feel-good reasons to take what they don’t have.
— Stuart Thompson