After 64+ years on the planet I think I’m beginning to see a pattern:
- Democrats get control of government.
- Democrats spend like drunken sailors for several years. They finance this spending with borrowing, often with the Federal Reserve System printing money to buy the debt, thereby decreasing the value of every dollar we have.
- Debt increases until it reaches a “crisis” point.
- Democrats cry that taxes must increase because it would be irresponsible to let the debt crisis continue.
- Republicans demand that spending cuts accompany the tax increases.
- The Democrats offer a compromise: immediate tax increases in exchange for future spending cuts. Republicans agree.
- The tax increases are enacted immediately. Later Republicans learn that Democrats had their fingers crossed when they made their promises and no real spending cuts result.
One last thing, the people who get the government checks are not the same people who get the tax increases.
Have I missed anything?