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It's crap Sam....
Rubin is about as "fiscally conservative" as the congressional black caucus is inter-racial.
The only thing about Rubin is that he was able to put on a better facade of conservatism.
But the result is that rather than empowering people to save and hold hard assets for their retirement, he, and his former boss, have obligated our future taxpayers to foot the bill for social security and other entitlements.
The government cannot be permitted to take in excess revenues to the extent that it currently is. Especially when those surplus funds are being placed in government debt, thus increasing future outstanding obligations, and taking the money and spending it on pork projects.
And why I think the number is consider "magical" ($1.6 trillion), is because that amount will only represent 1% of total expected US GDP over the next 10 years.
What's more important though Sam, is people having that surplus money they are currently paying out in taxes, to be available for the purchasing of REAL HARD ASSETS, not governmental obligations.
People being able to take a percentage of their FICA tax to be placed in personal Roth IRAs, under govt supervision (like the Federal TSP program). People having the option of buying corporate bonds, mortgage securities, or even an index fund like the S&P500 that can be inherited by a family member should the person die before using that retirement up.
That's conservative Sam... empowering the people to do for themselves, rather than depending on Uncle Sugar to take care of them. And I can guarantee you that such an influx of money into the private debt markets will do FAR MORE than increasing private government debt obligations to be paid by taxpayers 10-20 years from now.
All that wasted time.... Now we're left to try and make up for the 8 years of misbegotten policy this former administration has left us.
Regards,
Ron |
