You may be required to pay off California's state and local excess spending and unfunded pensions, conservatively estimated at $137 billion, New York City's at $61 billion, and Illinois' at $86 billion.
Indeed, 45 states and localities overindulged to the tune of trillions of dollars. Unaffordable extravagant union pensions and benefits are huge problems at the state and local level, whereas Medicare, Medicaid and Social Security are the main federal issues.
You don't want to pay for someone else's excess? You tried to live within your means? Tough, if some senators and governors get their way by having your federal tax dollars pay off state excesses. A multi-state (stimulus) bailout.
Wait, doesn't our federal government already have its own accumulated deficit of expenses over revenue of $15 trillion? So it is broke. Big deal. Just add another few trillion dollars to the 2012 tab.
Isn't this crazy because California, New York, etc., won't even be required to seriously amend their fiscally irresponsible ways? It seems so.
Some struggle to make cuts while others protest cuts.
Still don't want to pay? Tell your state representatives to tell other states to find a way to declare bankruptcy or its equivalent. Surely, it will hurt, but the pain will fall mainly on those states that played loose with their resources. We don't even have a union for educators in South Carolina.
You won't pay? Tell your representatives in Congress that our "voluntary" federal tax payment system may be in jeopardy. That will get their attention.