** 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
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Austerity Archive
Hair of the Dog
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 “The Debt The Government Owes Itself For Raiding Social Security”
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 The Safe Withdrawal Rate
By John Lumbard.
The “safe withdrawal rate” is the amount of cash a retired person can withdraw from an IRA or other investment account without someday running out of money. It’s not an easy figure to calculate, because you need to project your investment returns and your cost of living...
Read More Peter Treadway: Debt and Deflation . . . or Inflation?
By Peter T Treadway, PhD
Historical Analytics LLC
www.thedismaloptimist.com
“Show me where he sits and I’ll tell you where he stands.”
Old Washington proverb
“As the buyers become less eager and the sellers become more eager an uneasy period of ‘financial distress’ follows… For the economy as a whole, the equivalent is the awareness on...
Read More