They Are Blowing the Tax Horns

Alice Rivlin, a former Vice Chairman of the Federal Reserve, and the 1st Director of the Congressional Budget Office where she was a staunch critic of Reaganomics, has penned a column for Bloomberg, warning about government debt.

This is a further sign that big government types have co-opted the danger of the huge debt for their own purposes. Remarkably,a huge debt which has been caused by huge government is now being used by big government advocates to grow the government even more.

Rivlin writes:

The biggest economic challenge for 2010 is enacting credible future deficit reduction without derailing the fragile recovery. That isn’t a hard as it sounds, because tax increases or benefit reductions sufficient to stabilize the debt would be phased in slowly and wouldn’t affect the near-term economy.

Increasing the retirement age for Social Security, means- testing benefits of Medicare or adding a national sales or carbon tax would take several years to implement. Enacting such measures in 2010, however, could show our creditors we mean business and help the recovery by avoiding future interest rates increases.

Notice, there is no talk of reducing government, government work or government employees. It's all about raising taxes and screweing the average worker who has paid money into the Social Security ponzi scheme.

Be vary careful of those warning about the current debt, some of them want you to pay for it, instead of shrinking government.