Someone look at the chart below and tell me Kentucky is going to be able to compete with the U.S. government for borrowed funds to pay for expanded government health insurance for the middle class, decades of underfunding in public employee fringe benefits, and politically expedient corporate welfare projects from Pikeville to Paducah.
We already know we don’t have the money. Further, we know tax increases are not going to fly politically. And the casino economy in other states seems to have often made their problems worse just as our own lottery hasn’t made education any more affordable.
At some point, small government is going to win out in Kentucky. The only question remaining — and it’s not so much a question as just another warning — is whether we do it the smart way with massive spending cuts or wait until the house of cards comes crashing down.