Democratic presidential candidate Bill Clinton's economic program consists primarily of higher spending, higher taxes and private sector mandates. Although Clinton claims that his program would stimulate investment, create jobs, spur economic growth and reduce the federal deficit, we predict the opposite results.
Before the end of this decade, Social Security and Medicare will begin paying out more in benefits than the payroll tax (FICA) collects in revenues. As a result, taxes will have to rise. According to realistic projections, the taxes needed to fund these two programs will continue rising as far into the future as anyone cares to look.