Remember the Whiskey Rebellion
No, that was before my time. :)
What I worry about is the percentage of revenues that go towards the debt. It is moving towards 25%, and at this rate, could top 30% by 2008. Since taxes are already at or near their maximum, relatively speaking, and SS is due to implode, we're looking at a severe financial crisis in the next 25 years.
At some point, it may be virtually irreversible, as the population grows larger and older, health care soars, SS dies, and the percent spent on debt balloons about 40%. Maybe not in our lifetime, but very likely in our kids... |
