We'll see how Republicans handle the costly entitlement programs for Seniors which are currently 58% of the Federal Budget and will soon cost 62% of every Federal Dollar spent.
They say Medicare and Social Security payments need to be "reformed".
I can't wait to see what "reformed" means.
With the military costing 26% of the budget and Seniors costing 62% in a few years, that's 88% of the budget.
That leaves the rest of the government, costing 12% of all spending, including Senate and Congressional salaries, being paid for with new debt. And of course all of our wars have also been off-budget since 2003, being paid for with new debt.
A 40% cut in Medicare benefits could reduce Romney's income tax rate on his $22 million of annual income from the current bone-crushing 13% down to 5%. That proposal looks like a clear winner.
Of course Reagan could have invested the massive surplus created by the Social Security and Medicare tax since 1980 - but he used to to cut income tax rates for the top 2%. Clever - not.
We've run out of other people's Social Security taxes needed to subsidize our low income tax rates.
