BuckeyeBlog

This article via Glenn Reynolds is a nice one about Freddie and Fannie. I’ve been being warned about this since I started as a newspaper reporter in 2000 for a small business paper. It’s a bit tricky; both that professor that bent my ear and Bainbridge are at risk of the stopped clock scenario; they’re right twice a day, etc. (How’s that for an anachronism).

The real issue Bainbridge touches on at the end: Freddie and Fannie can go to pot, as people have been predicting for 20 years or more they would. What’s really going to happen, though, is that with all the nonsense about Medicare, Medicaid, Social Security and a list that is literally endless, since our great politicians, Democrat and Republican alike, want to add to it every day, the American government itself is going to be recognized as a fraudulent bankrupt.

It’s not an if. It’s a when.

So Obama wants to tax payrolls above $250,000 . We’re already taxing payrolls up to $102,000. The folks between $102,000 and $250,000 get a small respite.

Guess that means he endorses George W’s Big O. Why not? Medicare Part D’s donut hole was a good start. Let’s get to Medicare parts E through Z as quick as possible. And if there’s still a problem that needs solved after government gets done with all that, I’m sure some forward thinking elected official will be creative enough to think of Medicare Part AA.