Well, the tax reform bill is now passed. And we as a nation with a current indebtedness standing at $20.5 trillion — are now standing in front of a roulette wheel betting the bank that this will pay off. I hope and pray it does.
Because to pay for this huge tax cut we will end up taking $450 billion out of Medicare/Medicaid over the next 10 years. We will take billions out of help for our farmers, should they need assistance over the next decade. Etc. Etc.
Medicare is slated to go broke by 2028 if not earlier, Social Security will be unable to meet its obligations by 2034. People now working are paying into these programs with the hope and promise that it will be there for them when they need it. I think it's safe to say we will have a lot of angry people -- and justifiably so -- if those promises are not met. So this is a gamble -- a big one -- and if it fails a lot of people, ordinary working people and people who work hard to just get by, will bear the brunt of the result. I am praying it will succeed, but if history is any indicator I find no reason for optimism.
Pat Crotty, Bismarck