** An American Promise **
● A Balanced-Budget Amendment to the Constitution, with appropriate exceptions for times of war and recession.
● A line-item veto, to give the President a fighting chance to eliminate pork and earmarks.
● A limitation on federal spending, to 20% of GDP.
** About We Elected You **
** Building A Million Dollar Retirement Portfolio **Most of the millionaires in the U.S. are small business owners, and their wealth is tied up in their businesses. They drive used, American-made sedans; they live in modest homes in middle-class neighborhoods. Most of them are first-generation wealthy; they did not inherit their wealth, but earned it the hard way, through adding value in a business, or by saving diligently. Source: "The Millionaire Next Door", by Thomas Stanley and William Danko.
Have Your Say!
- John Lumbard on Problems With a Balanced Budget Amendment?
- Chris Curley on Problems With a Balanced Budget Amendment?
- John Lumbard on How to Fix the Health Care Mess
- Did Government Agencies “Raid” Social Security “Coffers”? « Joejolly’s Weblog on “The Debt The Government Owes Itself For Raiding Social Security”
- John Lumbard on The Antidote
- Gen Y on The Keepers of the Flame
- Chuck Bailey on Amendment Filed. Call Your Congressman!
- Phoebe Addington on Party On!
- FaGaurlwal on Incentives Rule!
- James Schaefer on The ENTIRE Government Runs on Borrowed Money
Topics$1.6 trillion deficit $8.2 trillion $12.8 trillion American Promise Austerity Balanced Budget Amendment balance the budget bipartisan reform cbo compound interest Congressional Budget Office Constitutional Amendment Contract From America debt burden default economy entitlements fair tax system federal budget Federal debt Federal deficit fiscal respnsibility fiscal responsibility Fiscal Sanity government debt Greece growth of government interest rates Judd Gregg limit on federal spending Line-Item Veto national debt net debt Pledge of Fiscal Responsibility political platform Portugal Social Security Spending Cap Spending Limit Amendment Sustainable Government Tax Reform Tea Party Term Limits trillion dollars unsustainable fiscal policy
Archive for April, 2010
By Paul Casto In this article from Reuters, the head of the European Central Bank predicts that irresponsible governments will have to pay higher interest rates when they borrow. Trichet is warning that other European nations could follow Greece down the slippery slope, but the same applies to the United States. This...Read More
"A Bipartisan Plan for Tax Reform", from Senators JUDD GREGG (R - NH) and RON WYDEN (D - Oregon): "By streamlining and modernizing the outdated tax code, our proposal would eliminate many of the specialized tax breaks that currently benefit one group of Americans over another. The changes we propose will create...Read More
By James Schaefer All discussions about taxation must begin with a single premise: there will never, ever be enough tax revenue to satisfy the political appetite. With apologies to General Chesty Puller, "Men, we're surrounded. This simplifies our problem." America's citizens are surrounded by taxes, and demands for additional taxes. No matter...Read More
By John Lumbard TAX REVENUE of $2.2 TRILLION, and INTEREST COSTS of $1 TRILLION A YEAR. In my last post I suggested that we shouldn't count the U.S. Treasury bonds held in the Social Security trust fund when talking about the size of the debt. The reason is that we don't have to pay...Read More
After a long hiatus relating to business travel, vacation, and a long overhaul of the site---which had been damaged by a Wordpress "upgrade"---we're back to work. There will be new contributors, new links to the Congressional Budget Office and other sources, and a new comment section that all of our...Read More