Из интервью Грегори Менкью
(о неизбежности повышения уровня налогобложения для поколений американцев)
… Our children will pay vastly higher tax rates than we currently face. The alternative is to reduce spending, but the spending cuts that are necessary to maintain our current levels of taxation are politically untenable. If I had my druthers, I would raise the eligibility age for Social Security and Medicare, but that is a political non-starter.
… The more robust the social safety net that you have, the higher the taxes to pay for it. We are moving in the direction of a more robust safety net—that is what the health care bill is about. We are going to look more like Western Europe. Higher taxes blunt economic incentive and adversely affect economic growth, however.
As a result, our kids will face less incentive to work than we have …
Из обзора Джона Молдина
(о том что проблема долга разыгрываемая на карте Греции ничтожна, и она прикрывает, а может быть тестирует, более серьезные проблемы для Испании, Великобритании, Японии и США):
… While Greece can be readily bailed out (assuming they accept large budget cuts) because it is small, Spain is too big to save. The European Union cannot set the precedent that countries that do not set their fiscal houses in order will be bailed out by countries that do.
… The decisions are now political.
How do we unwind the debts and the leverage? How much pain do we postpone and how much do we take on today? It is the same question for much of Europe, Great Britain (serious problems there), Japan (which is a bug in search of a windshield), and the US. We now have a limited number of path-dependent options. By that I mean the political paths chosen by the various governments will dictate the economic path we go down…
… Pay attention to Greece and Spain and especially Japan over the next few years. Unless the US gets its fiscal house in order, we will be next. It will not be any easier for us in five years than it is for Greece today…