** 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 June, 2010
Governor Tim Pawlenty of Minnesota: http://www.timpawlenty.com/balancedbudget. If you sign the petition you WILL be given an opportunity to decline fund-raising e-mails . . . . There is also an opportunity to put up a comment. Our contribution: "Greater freedom for the American people will only become possible if we restrict Congress's freedom to intervene...Read More
“The earliest democracy in the world began in Athens, in 510 BC . . . . Democracy means the rule of the people (in Greek). That is where each individual person has a vote about what to do. Whatever the most people vote for wins.” --- www.History For Kids.org What the...Read More
by Michael Smith. Talk of another stimulus package prompted me to go back to the early months of the Obama administration, when the new president was riding the crest of the Bush stimulus and promising more triumphs to come. This is from the Cincinnati Enquirer, March 17, 2009: It’s happened. My uneasiness...Read More
We noted with interest an article in this morning's New York Times, on public sector pensions (States Take Aim at Pension Costs). To successfully address the debt crisis, sacrifices will need to be shared across both the private and public sectors, and they will need to include entitlements, benefits, services,...Read More
by Michael Smith. Just watched an ABC News feature on the rope bridges Arizona will construct to keep Mount Graham red squirrels from becoming roadkill. The bridges are expected to save five squirrels per year, at a cost of $1.25 million. The funding will be provided by--wait for it--the Federal Highway...Read More
By John Lumbard . "In a June Washington Post/ABC News Survey, only 29% of Americans said that they were inclined to support their House representative in November . . . . . The American people are looking for candidates and parties that champion fiscal discipline, limited government, deficit reduction and a free...Read More
by Michael Smith. Once the lifeboats on the Titanic were full and in the water, the fellows left on deck would have had a little time to kill before the big swim meet. I can see a few what-the-hell types raiding the ship’s liquor stock—which surely was exquisite, considering the clientele—and...Read More
We noted with interest the President's recent directive to federal agencies to reduce the bottom 5% of their discretionary operating budgets for the current fiscal year (Obama, June 9, 2010). Given that budget cutting in Washington usually means continuing to expand, but at a slower pace, this constitutes real progress. Of...Read More
By John Lumbard. We think that there’s a good chance for a budget deal in December that will bring our nation’s budget deficits back to a reasonable level. If we’re right the government’s debt will still be growing, but it won’t grow fast enough to scare foreign investors until large numbers...Read More
There is at least some good news on the personal finance front. Increases in "consumer debt" -- defined as total revolving and non-revolving personal debt -- are being more than offset by decreases in mortgage and credit card debt. As a result, total personal debt is declining (see U.S. Debt Clock). It...Read More