The Great American Snooze Button

I’ve been known to hit the snooze button on occasion. My long-suffering editor can attest to that. Just ten more minutes, then I’ll… Imagine if each press of the snooze button made the next BEEP-BEEP-BEEP happen a little bit sooner than the last. Eventually, you wouldn’t be able to sleep at all. Time to either wake up or smash the alarm clock. America has been hitting the fiscal snooze button for the last 30 years. The alarm is getting shriller these days, and it beeps more often than it used to. So, what’s the plan? In essence: smash that stupid alarm clock to bits and worry about consequences later. Social Security, and pensions, and Medicare, oh shit my! In 2011, Social Security will pay out $130 billion more in benefits than it collects in revenue. The program’s deficit this year would have been a paltry $45b, if not for Obama’s one-year deal lowering SS payroll deductions from 6.2% to 4.2%… The CBO admits the system will be completely drained by 2037. But even their own analysts don’t buy that, as reported by the Christian Science Monitor . By the way, did America really enact a tax break that lasts one year ? Yes, we did. The social security payroll tax cut is a 12-month deal— for now. Short-sightedness is at all-time highs in D.C. Now don’t get …

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The Great American Snooze Button

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