Something I wrote earlier today to an email list:
The reason why I have some alignment with the Tea Party is because with all of the government spending, we are destined to burden our children with the debt being amassed under our watch. For those of us who have been in serious debt and have worked our way out of it, I view the use of the word enslavement as being appropriate.
When I had serious credit card debt, and realized that paying what I thought was a lot, was really paying a few dollars over the credit card interest and fees, I felt like a slave. What are we doing to our children?
In Maryland, when O'Malley gained office, the first thing he did was spend down the rainy day fund to the legal minimum. He then gave raises to people in his cabinet. This was despite the fact the outgoing governor said there was a multi-million dollar structural deficit coming.
The next year, O'Malley kept up the spending spree along with the state assembly. He said he "cut" government by not filling open positions but filling new positions. They then has a "special session" to cover the debt where they raised the sales tax and put slots on the next election ballot. They also used one year inflows into the government from the federal government to hide the deficit.
This year? No new taxes, but again the budget included one year inflows from the federal government. Now, ALL state legislators are saying they are going to have to "revisit" the budget next year -- AFTER THE NEXT ELECTION CYCLE -- and that "deep cuts" and "revenue enhancements" will have to be a part of the "discussion." This means, they are going to raise taxes.
This is happening on the federal level only it is much much worse. And, seriously, I wonder, and fear, the idea that future tax increases as well as the use of "fees" and other things, will negatively affect my living standard just because I'm "wealthy", whatever arbitrary level that is.
The AMT is unfair and will hit the middle class hard. The congress-criters know it and don't do anything to seriously revamp it because they depend on the money the AMT brings in.
This CAN'T continue. Greece is our future.
And I haven't even mentioned Social Security going into the red much sooner than estimates given, or the under funding of pensions, or the under funding of the government pension insurance, or...