I didn't suggest Mississippi was the Federal Government. I did suggest - and do suggest - that the overall deficit burden at all local state and Federal levels is interdependent and is certain to result in cessations of funding and transfers from one government level to the next, requiring significant increase in taxation over the next 12 years to come close to maintaining current commitments.
That means when the federal government runs a deficit, all ogvernment levels will ultimately be paying taxes to deal with the fallout of that red ink on their budgets in subsequent years. There is no free lunch.
My point: You will not have a choice. You once had that choice and you made that choice. You have been enjoying a dollar's worth of government for much less than a dollar for decades. That dollar's wortg of government was not "on sale". The bill for the difference - between what you got and what you paid for it - comes due.
In Canada, unlike virtually all of Western Europs and the United States, we have bene running significant federal budget surpluses since 1995. 2009 will be our first year in the red in over 14 years. That's the cost of bad times. We'll go back in the black in two or three years, I expect. The taxpayers in Canada would rather services were not cut and deficits are not run unless they have to be. We will keep tax levels higher in order to make that happen.
Americans? They won't. Someone says raise taxes, and middle America freaks out.
That, essentially, is the story of America since before Day One. It has its strengths - and it has its weaknesses, too. Welcome to "weaknesses".
Americans have been told that they can pay now or pay a lot more later. They have consistently chosen "a lot more later" please. Without ever really *believing* that "later" will actually come.
Fair enough. In many cases (now, say) that's probably good fiscal policy. In 2002-3, choosing to go fight TWO wars and cut taxes at the same time? All by borrowing the money from the Chinese to do it?
That's maybe not so good a fiscal policy.
Good or bad... doesnt' really matter now. That bill comes due either way.
Moral of the Story: Man up and stop whining about it.