IT'S OFFICIAL! You no longer need to pay taxes!

I was having a conversation with liberal on the Huffington Post today. I know, I know - what the hell was I thinking? The genesis of the conversation had to do with taxes. The only things libs love more than taxes is deciding where they should go and who isn't paying enough of them. But this particular conversation had to do with the budget deficit and the national debt. The CBO estimates the current budget deficit to be $680 billion this year. When Mr. Obama ran for President in 2008, he vowed to reduce the budget deficit by half by the end of his first term. The reality was it increased from $480 billion to $1.1 trillion. In fact, it's been over a trillion every year of his administration. The $680 billion figure represents an increase in taxes and the reinstatement of the Social Security payroll tax this year. But they only averaged it out to represent 7 months of a fiscal year. When you factor in a complete year - it will be yet another trillion bucks added to our tab. Even with the rosiest of forecasts, the CBO still expects at least another $6.8 trillion added to the debt over the next decade, with an explosion (their words) to occur within 10 years due to the costs associated with an aging population. But don't worry, because my friends at the Huffington Post agree with liberal economist, Paul Krugman - debt and deficits don't matter - only spending. They cite the fact that most of our debt was accumulated after WWII and will probably never be paid off. If that's the case, then why am I paying taxes at all? If the government can just print money, go in debt and never be expected to pay that debt, why do you need my money? The reason? Because they DO need our money. The interest alone on the debt will be enough to fund the Chinese military soon. And our creditors want the interest paid. We sell Treasury bills to pay for our debt. We have to pay interest on that debt. We pay about $190 billion a year just on the debt's interest. About $4.6 trillion of the total debt is money that the government has borrowed from itself, by writing IOUs for huge sums taken from Social Security and Medicare surpluses which no longer exist. Unfunded liabilities now stand at $66 trillion which represent the entire world's wealth. But Paul Krugman and his like minded lemmings say it doesn't matter. So stop paying your taxes. The government doesn't actually need it. They'll just keep borrowing and printing more unfunded paper money. After all, what's the worst that could happen?