** 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 **The average return on the U.S. stock market over the past 100 years is 6.6% after inflation. Caveat: history tells us that there is no such thing as an average return for any randomly-selected block of time. So instead, let's be conservative and use a 5% average return. That $1 million retirement fund would be worth only – "only" – $761,000 at age 67. And getting there is relatively painless: $7 per day, increased by 2% per year, from age 19 to 68.
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 December, 2010
By John Lumbard. Unemployment claims are down. The trade deficit is rising. The Fed is printing money. A new cut in payroll taxes (less FICA taken out of your paycheck) and an extension of unemployment benefits will mean growing federal budget deficits---and a big new stimulus for the economy. We’re...Read More
When people are in trouble they're not always willing to accept help. Whether you're talking about an alcoholic resisting intervention, a drug addict, a wife who protects her wife-beating husband, or a homeowner who refuses to leave the flanks of an erupting Mount Saint Helens, there's never been a shortage of...Read More