In the Weekly Standard, Chris DeMuth explains why the dreaded “fiscal cliff” is actually more like a curbstone and the hoopla surrounding it, a “charade.” Near-term, Chris argues, we have to figure out a contingency plan for California’s impending insolvency. We also have to figure out how to align the transfer state that the middle class seems to demand with a transfer state it’s willing to pay for. As it is, we’re simply transferring income from future generations. That cannot last, and it’s grossly undemocratic and unfair.
Indeed.
