Unfortunately, as the bankruptcy rate indicates, there is no free ride. High interest rates take their toll. Eventually, somebody has to pay. Paltry defense spending has a similar but more devastating effect. Eventually we have to pay the fiddler.
Smart societies pay up front in the form of higher defense spending.
Societies with less forethought borrow time and put the payments off till later. Unfortunately, the currency demanded to pay the interest on this loan is usually blood. Smokey Briggs is the editor and publisher of hte Pecos Enterprise whose column appears on Tuesday. In 1969, Congress voted to change the tax code. Since 1969, married couples have paid more income tax than they would have it they simply weren't married.