Read Williams: Economic Chaos Ahead

Take a few minutes today to read Prof. Walter Williams’ current Creators Syndicate column, Economic Chaos Ahead.

From Williams’ post yesterday.

The Congressional Budget Office estimates that it’s possible to sustain today’s level of federal spending and even achieve a balanced budget. All that Congress would have to do is raise the lowest income tax bracket of 10 percent to 25 percent and the middle tax bracket of 25 percent to 66 percent and raise the 35 percent tax bracket to 92 percent.

Oh, joy. Read the whole thing.

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Steve McGough

Steve's a part-time conservative blogger. Steve grew up in Connecticut and has lived in Washington, D.C. and the Bahamas. He resides in Connecticut, where he’s comfortable six months of the year.


  1. Dimsdale on February 7, 2012 at 11:08 am

    It is easy to pass the deficit/debt buck to the taxpayer.
    Williams says the country is due, well, overdue really, for some “economic cold turkey”, which, for like any other addiction, is a difficult and painful path to kicking the addiction and going back to true, economic responsibility.? This is something no deficit spending will ever fix; it will just make the withdrawal symptoms for the future generations that get hit in the head with the “can” that the current pols keep “kicking down the road”.
    As the pre “Government Moters” used to say, “pay me now, or pay me later”.? There are? no economic “ruby slippers”.

  2. sammy22 on February 7, 2012 at 12:15 pm

    Even Greece and Italy have found a way to introduce budget cuts (by compromise). The US Congress can only produce nada!

    • NH-Jim on February 7, 2012 at 1:13 pm

      The keyword in your statement is “BUDGET”.? I lay the blame for our lack of fiscal control right at the feet of Harry Reid who presides over the Democrat controlled Senate that has FAILED to pass a budget in over 1,000 days.? Meanwhile the house has made a start.

  3. sammy22 on February 7, 2012 at 6:46 pm

    I put the word “compromise” on purpose above (that is what they did). What we have had in Congress is gridlock, hence no action and surely NO compromise.

    • Dimsdale on February 7, 2012 at 7:23 pm

      How do you compromise with no budget?? The Republican controlled House is doing their job, whether you like what they produce or not, but the Democrat controlled Senate, in yet another breach of etiquette, law etc., simply refuses to do so.? If the Dems have a better idea, let’s see it.

    • GdavidH on February 7, 2012 at 7:25 pm

      I don’t think you know what comprimise means. It certainly is not defined as:”Republican concessions that entice the media to report that bipartisanship and comprimise have occured. Gridlock is good when it prevents the destruction of an economy by hyper-taxation with no restraint.

  4. ricbee on February 8, 2012 at 12:18 am

    The CBO & Commerce are still hiding the true inflation figures.
    A cupla pounds of gold & many rounds of ammo will insure the chaos doesn’t spread.


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