[Tauzero]

"This fact puts a lie to the notion that recent tax cuts have somehow contributed significantly to a $44 trillion debt."

Umm yes.

"The imbalances in Social Security and Medicare are inherent in those programs and will not be cured except by fundamentally restructuring them. Raising taxes or rescinding recent tax cuts will not suffice. Payroll taxes would have to roughly double immediately and stay at that level forever to cover the deficit, or income taxes would have to rise by 70 percent.

Of course, if taxes did rise by such an amount, future economic growth would be affected. We would not get $682 trillion of GDP in the future, but considerably less. That will require even higher taxes to pay promised benefits, which in turn will further reduce growth."

Umm, yes. Bruce neatly summarizes exactly why this is worth worrying about.

[headsonpikes]

"Bruce neatly summarizes exactly why this is worth worrying avout."

There's nothing to worry about!

The $44 Trillion figure would only apply if the government kept its promises to the taxpayers and retirees.

Now, seriously, how likely is that?