I don't think the Republican Party's tax stance has lost us any voters. Nevertheless, I'm heartened to see some Republicans, like Saxby Chambliss, become less dogmatic on the issue.
I don't think the federal debt is our biggest problem. Our debt burden should be reduced. We should stop borrowing money to fund entitlement programs. The federal debt isn't the real problem though.
The real problem is the trillions of dollars in unfunded liabilities the states are racking up. This will result either in a cut of public service, a cut in pension benefits, increased taxes, or even worse states asking for a federal bailout.
What will that bailout cost? Doubtless the federal government will claim the states unable to govern themselves. They will make federal funds contingent on increased federal oversight. That could be the true cost of continued fiscal irresponsibility in the state houses.
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