On the recordMarch 3, 2015
Again, I think you are capturing, in essence, the totality of this debate because there is a guy up at the University of Boston called Laurence Kotlikoff, and he wrote a book called ``The Coming Generational Storm.'' Its premise is really built around your two grandkids because he says that the imputed tax for a child born into America today is about 84 percent, 84 percent. I mean, our civilization won't work. A market-based economy doesn't work with an 84 percent tax rate. Yet that is what he said is coming those two young children's way in the event that nothing is done to change the course and the trajectory of the way that Washington is spending money. He says that the total debt really amounts to around $200 trillion. So it hit me, as I was looking into your two grandchildren's eyes there in the photograph.
