How long before they cut Medicare and SS to pay for the tax cuts for millionaires?

This is a really great Forbes article.

http://ift.tt/2nnIqef

Quote:

Will GOP Cut Social Security And Medicare Before Or After The 2018 Election?

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My former blogging partner Bruce Bartlett -- who in a previous life was chief economist for Republican economic icons Representatives Jack Kemp (R-NY) and Ron Paul (R-TX) -- for weeks has been shouting from the mountaintop the extreme likelihood of the GOP training its sights on Social Security and Medicare. To paraphrase Bruce's wisdom (look here, here and here, for example), the Republican deficit hawks that have been in the budget version of the witness protection program during the current mega deficit-increasing tax cut debate will reemerge with a vengeance to demand Social Security and Medicare cuts to reduce the deficit they just created.

Does anyone disagree that this is true?

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Interest on the national debt will be increasing substantially in the years ahead as the federal deficit reaches $1 trillion or more and interest rates rise.

When they start screaming about a fiscal cliff and "entitlement reform" this time, I think it might actually be true. Engineered, but real.

Also worth reading and extremely relevant if you've never seen it before, from 1985:

http://ift.tt/2nqGJN6

Quote:

But, Dr. von Hayek continued, ''You see, one of Reagan's advisers told me why the President has permitted that to happen, which makes the matter partly excusable: Reagan thinks it is impossible to persuade Congress that expenditures must be reduced unless one creates deficits so large that absolutely everyone becomes convinced that no more money can be spent.'' Thus, the economist said, Mr. Reagan ''hopes to persuade Congress of the necessity of spending reductions by means of an immense deficit. Unfortunately, he has not succeeded!!!'' But he has, more than Dr. von Hayek could know last March. Now he wants more. While some Americans may agree that a shrunken government makes a deliberately created deficit ''partly excusable,'' such a deficit still reflects a reckless deception with worldwide consequences yet to be calculated. And Congressional Democrats should realize the source of the pressure they're under to sell their political birthright.

via International Skeptics Forum http://ift.tt/2AndAY6