** 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 February, 2011
By John Lumbard. Republicans are threatening to shut down the government over $100 billion in spending cuts---remember when that was considered big money?---while Democrats try to turn the event to their political advantage. Wouldn't it make more sense to take a stand on principle and a permanent change for the...Read More
By James Schaefer. At long last, the topic of entitlement reform -- "the topic" -- has been broached (see Weekend Interview with Paul Ryan). These entitlements -- Social Security, Medicare, Medicaid, and the Prescription Drug Benefit -- are the promises that politicians have made to American citizens for decades. We think of them...Read More
By John Lumbard. In the weeks before the 2008 elections Barack Obama mused that the nation needs to strike a "grand bargain" if it's going to balance the federal budget. You won't give up your benefits and tax breaks unless I give up mine, and the same can be said...Read More
By James Schaefer. Scott Adams, the author of Dilbert, recently had a feature article in the Wall Street Journal, entitled "How to Tax the Rich", and he asked readers to think up incentives that might allow our biggest taxpayers to feel a bit better about dropping hundred-thousand-dollar checks into the ravenous maw...Read More
Senators Mark Udall (D-Colo.) and Richard Shelby (R-Ala.) have introduced a Balanced-Budget Amendment to the Constitution that---are you sitting down?---includes a 20% of GDP cap on federal spending! It requires a 3/5 vote of both houses to run deficits or overspend, but in other respects is very much like a bill...Read More