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 ***
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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compound interest Archive
Taking the Long View
By James Schaefer.
In America nearly everyone has the opportunity to acquire substantial retirement savings; it's simply a matter of applying self discipline (and some common sense) consistently over a very long period of time. Starting at age 22, saving a million dollars -- or more -- in retirement accounts is fairly...
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 Statutory Debt
By James Schaefer.
Corporations, sole proprietorships, unions, and government all share a common mandate to Grow the Franchise.
In the private sector this growth is constrained by the ability to make a profit---while laboring to provide goods or services that have value to others. For them, the cost of money is real,...
Read More An All-Consuming Interest
By John Lumbard
TAX REVENUE of $2.2 TRILLION, and INTEREST COSTS of $1 TRILLION A YEAR.
In my last post I suggested that we shouldn't count the U.S. Treasury bonds held in the Social Security trust fund when talking about the size of the debt. The reason is that we don't have to pay...
Read More