I see a lot of discussion about what the “Tea Party” activists are concerned about. It isn’t really taxes. As others, including David Frum, have pointed out, taxes are not the issue right now. The rates are still fairly low by historical standards. This is what we are concerned about:
There are lots of complaints about Bush’s spending and I was unhappy with it. Still, the graph shows the difference. We have never seen anything like this before in our history. There is no way this debt can be repaid without either huge tax hikes or runaway inflation. We were already worried about paying for the Boomer generation retirement benefits in Social Security and Medicare. This will make that impossible. Obama said he wanted to change the country. That is certain unless he is stopped. That is what the tea parties are about.