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Id like to know how Arrington and Grammy arrived at $64,700. I'm skeptical and bet if I had access to the full WSJ I'd be no closer to knowing.

Be that as it may, the problem isn't the current spending above and beyond payroll tax. The problem is future years and the cost of SS and Medicare above and beyond the payroll tax is going to grow far faster than other welfare spending.

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That's like saying, "The problem isn't that today I'm taking on debt I won't be able to pay off. It's that ten years from now I won't be able to pay it off. It's not a present problem. It's only a problem in ten years."

Or perhaps, "The problem isn't that I'm sitting around eating junk food. I have no problem today. The problem is only twenty years from now when I have metabolic syndrome and my doctor is telling me to change my life."

Saying, "It's not a problem today" is irresponsible short-term thinking. Something we humans are all too prone to.

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I said today's spending isn't the problem and tomorrow's spending was. I didn't say when tomorrow's spending was a problem. I didn't say it didn't result from an obligation made today.

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If you make an obligation today that you will have difficulty performing, you have created a problem today. I suppose it's a matter of language whether that's a problem today or later. My feeling is that it's worth worrying about today. It's worth not doing today. It is a problem today.

There's a joke about the man who jumps off a 100 story building. As he passes the fifth floor, someone asks him how's the trip? He replies, "So far, no problem." I would say that he had a big problem as soon as he jumped.

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Again, I didn't say anything contrary to that.

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