Good post. You said this far better than I could have.I would have posted this exact thing 10 years ago - not so sure it is still true. Although I still think this myself most days - today is just not one of them!
The politics are impossible - people have been voting themselves free stuff for so long - anyone that tries to cut spending can not get elected.
Hard to imagine a candidate for POTUS saying we have to cut social security, Medicare and the military ever getting elected.
But even if someone that was already elected tried it - like say Trump in his second term -
When government spending is 15% of the total economy cutting spending a little and raising taxes a little can be done - and the other 85% of the economy will not be damaged enough to cause a major problem.
The larger the % of the total economy government becomes the harder it is to cut spending and raise taxes - without hurting things. I fear we are past the point - government (federal, state & local) is pushing close to $10 trillion dollars out of a GDP of around $20 trillion.
When gov is close to 50% of all spending - it becomes really hard to cut it without making things worse.
If government cut spending - and raised tax rates - we could very well see total tax revenue decrease - and maybe even see a larger budget deficit as a result of a fiscal austerity program.
When government cuts spending people lose their jobs - when people lose their jobs the government welfare programs must spend more to provide the unemployed the benefits to survive.
Just don't ask me for my solution. :couch: