The danger now is red ink, not Redcoats.
In recent years, a modern-day Paul Revere has been found in David Walker, the former U.S. Comptroller General, who has been visiting every state to warn of the consequences of the nation’s fiscal course.
The majority of our representatives have, so far, closed their ears to the message.
But on Wednesday, Mr. Walker’s warnings were echoed by the chairman of the Federal Reserve Board, Ben Bernanke, who stepped out of character to alert Americans in plain language:
“To avoid large and ultimately unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above….”
Amen.
Let’s guess which option our government will choose? Cut spending? Nah… Reduce entitlements? Nah….
New taxes? You betcha….
#2
Defense will take a hit too, mark my words.