Down the road, someone is going to get the shaft. It could be my neighbor, it could be me, or it could be both of us. That is, people who are relying on the unfunded systems--public sector pensions, Social Security, and Medicare--might find their benefits cut. Or people who are relying on personal savings could wind up having those savings taxed away in order to address the shortfalls in the public systems. Or all of us could have our savings eroded by inflation, from which we may not be able to protect ourselves.
Have a nice day.
My Perspective on the Budget Fight, Arnold Kling | EconLog | Library of Economics and Liberty
1 comment:
Excellent article...concise and to the point.
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