If this doesn’t wake up Democrats, and the Americans that vote for them, to the real, actual unsustainability of more and more spending, what will? If the last remaining superpower can’t keep its financial house in order, then what comes next? Are we "spreading the wealth around" so much now, that too many are unwilling to give up their government dependence?

Should the rich pay more? If so, please say how much more, specifically? Should we go back to 91% rates? The problem is, when more that is taxed, it isn’t used to pay for existing debt and spending; it instead spurs on new spending. Our problem is not how much revenue the government is getting; it’s the amount of spending going on.

This is a bi-partisan problem; both parties have contributed to this. The Republicans, however, spurred on by the Tea Party, are making the first real effort in decades to do something about the problem. Nothing was done on this until Republicans won a majority in the House, and even now, Obama and the Democrats are making only token gestures.

Man oh man, I hope the independents are watching, and will remember in 2012. I hope some fiscally responsible Democrats are, too.

OK, lots of questions above. I would love to hear any answers in the comments.

Filed under: DemocratsDougEconomics & TaxesPoliticsRepublicans

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