** 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 August, 2010
Alan Parks is the founder of Americans For A Balanced Budget Amendment (http://www.balanceourbudget.com/), which collects signatures and builds support for the constitutional amendment that came within one vote of passing the Congress back in the mid 1990s. It can be done. Alan tells us that he commissioned a survey, with dollars from his own pocket,...Read More
By John Lumbard. Today the Boston Globe printed an article titled Greekonomics (by Thanassis Cambanis, a professor at Columbia), which describes the financial hardship that Greece has reaped as a result of decades of debt accumulation: "Try to live beyond your means forever, and one day it'll catch up with...Read More
By James Schaefer. Government has been using the Social Security Trust Fund to help finance government services and programs since around 1970 (see SSA History, the section entitled "On-budget"). In doing so, it has taken money intended for the future and spent it today. Beginning in 2010 for the first time, Social Security will begin to pay...Read More
By James Schaefer. Jonathan Weisman wrote cogently in the Wall Street Journal about addressing the budget deficit (Voters Back Tough Steps to Reduce Budget Deficit, Aug 17, 2010 -- subscription required). He points out that tens of millions of voters are ready to accept tough measures to balance the federal budget, and...Read More
By John Lumbard. Investors are running scared right now, fearful that a slowdown in our economy means that we're headed back into a double-dip recession. Stop worrying and enjoy a double dip in the ocean (a balmy 66 degrees at the New Hampshire shore today) or two scoops of ice cream at Annabelle's here...Read More
By James Schaefer. Few Americans are saving enough for retirement and other future needs, but the sorry truth is that individuals are more fiscally prudent -- and solvent -- than the governments and government agencies that serve them. The problem can be described in terms of deficits, debt, and (worst of all!)...Read More
by Michael Smith. In an August 4 column in the Los Angeles Times, Bill McKibben of 350.org threw down the green gauntlet. From now on, it’s no more Mr. Nice Guy for the folks who want to tax fossil fuels into oblivion. Taking their cue from the civil rights movement, they’re...Read More
By John Lumbard. USA Today just published an opinion piece arguing that voters are concerned about the power wielded by large corporations; but unwilling to embrace the federal government as a benevolent regulator. That distrust is founded in a recognition that our government is larger than all of our 100 largest corporations put together---a fearsome size---and that it has...Read More
by Michael Smith. Since 1938, the Tax Foundation has calculated how long Americans must work to earn enough to pay each year’s federal, state and local taxes. The result of that calculation is “Tax Freedom Day.” If you’re an average worker, you hit your quota on the 99th day of 2010,...Read More