When caught in a blizzard of rhetoric and demagoguery it is easy to get disoriented and lose oneâ??s bearings. At such times, it is wise to step back, plug oneâ??s ears and look at a topographical map of the surrounding terrain to reorient oneself. The nearby Fiscal Snapshot of the federal governmentâ??s finances for the past five decades looking forward another 70 years is all that is necessary to know where we are, how we got here and where we are heading.
Volumes could be written around this single snapshot but here I focus simply on the claim we have heard incessantly from liberal politicians â?? and not a few so-called moderate Republicans and â??independent expertsâ? claiming to have no partisan dog in the hunt â?? that we must increase revenues to solve the fiscal crisis because the source of the crisis lies in too few revenues.
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