Thursday, June 4, 2009
A trillion here...a trillion there.
James Hamilton has recently reported that we would have to double the taxes we pay for one year in order to pay back $1 trillion of the national debt. If this is so then it is the same thing as saying we would have to double our taxes for one year in order to reduce the current federal budget deficit by $1 trillion. That would still leave a projected $750 billion deficit. Work hard and pay up big boy. We got dog parks and bridges to nowhere to build.