“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
The documentary I.O.U.S.A., produced in 2008, which explains the current national budget crisis is compelling to say the least. These real issues must be confronted. We cannot simply close our eyes and wish them away. We, also, cannot continue to dig ourselves into a deeper hole.
With comments coming both from the Whitehouse and from Ben Bernanke, it seems that Washington may be priming public opinion to accept tax hikes to curb the deficit crisis. However, we must stand strong and demand they simply take more prudent action, which is to reduce spending and therefore the size of government. Of course, if they do not accomplish either, they will resort to printing more money, which history has shown to have its own adverse effects.
This solution may sound over simplified, but it actually is not. It is a common sense solution to this problem. And since the current role of the Federal government far over reaches its Constitutional authority, it is a solution based on Constitutional principles as well.
View a comprehensive debt clock that shows our national budget crisis in estimated live totals.
Below is an abbreviated 32 minute version of the IOUSA documentary, but it still hits the most important points.