No tax increase needed

There has been a big shift in spending by the federal government over the last few decades, from defense to "entitlements," specifically Social Security, Medicare, Medicaid and other welfare, medical and federal employee retirement programs. Many of those who insist that tax increases are needed argue that the entitlement programs will grow more rapidly than the economy and they must be funded. The problem with this argument is that tax increases will slow economic growth, and that no amount of tax increase can fund these programs if they are allowed to continue to grow faster than the economy. Fortunately, there are solutions that do not require any tax increase at all or substantial benefit cuts.

Some ideas to smooth the bumpy road ahead.