Vortex

Even if the government were to raise taxes to their maximum and seize 100% of all wages, salaries and corporate profits, it still would be showing an annual deficit, using generally accepted accounting practices.

If the government stopped spending every penny (including defense and homeland security) other than for Social Security and Medicare obligations, the government still would be showing an annual deficit.

The retirement and medical care benefits promised to future retirees will become part of the greatest bait and switch of all time. A Ponzi scheme that Madoff would be proud of. That future is not far off.