** 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 **
Remember that it's your money. If you live above your means, using borrowed money to do so, then the banks and money-lenders will own what should have been your retirement savings when you hit retirement age. This is especially true if you use borrowed money throughout your working years to purchase things that you want but do not necessarily need. Distinguish clearly between what you need and what you want. In the end, the fiscally prudent will own the fiscally profligate, and this applies equally to households, businesses and governments. If you think being a diligent saver will tank the economy, think again. The banks will lend money to those who spend it; investments in in mutual funds and individual stocks (i.e., publicly-held companies) will go back into the economy in the form of salaries, product development, plant expansion, and countless other ways. By saving or investing, your role has gone from being a direct consumer of goods and services to an indirect consumer. Unless you lock it in a vault or stuff it in a mattress, the money hasn't left the economy. .Topics
American Promise Angela Merkel Austerity Baby Boomers Balanced Budget Amendment balance the budget bipartisan reform Buying Votes compound interest Congressional Budget Office Constitutional Amendment debt burden default economy entitlements fair tax system federal budget Federal debt Federal deficit Federal Highway Administration federal spending Federal Spending as % of GDP fiscal responsibility Fiscal Sanity German deficit government debt Greece Group of 20 growth of government Investing limit on federal spending Line-Item Veto Mount Graham red squirrels national debt Pledge of Fiscal Responsibility Portugal profligacy Social Security Spending Cap Sustainable Government Tax Reform the Constitution the power of the purse The Stock Market unsustainable fiscal policyHave Your Say!
- Jorge on “The Debt The Government Owes Itself For Raiding Social Security”
- Michael Smith on Solvency
- Michael S on WaPo columnists look at the national debt
- John Lumbard on WaPo columnists look at the national debt
- Hollis on Simulated budget battles deal blow to federal debt
- John Lumbard on Tales from the North Atlantic
- Michael Smith on Consumer Debt-cutting
- James Schaefer on Consumer Debt-cutting
- Minnetonka on Consumer Debt-cutting
- Michael Smith on Statutory Debt
Blogroll
government debt Archive
“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 Addressing Government Debt
By James Schaefer.
In the space of just a few months, pundits from across the political spectrum have embraced the need to get our fiscal house in order. Now the debate is about timing, the right ratio of spending cuts and tax increases, and the nature of the very-political process that's...
Read More Doomsayers can shed the silly costume now
by Michael Smith
That the European welfare state amounts to a pyramid scheme—a shrinking work force trying to support a growing population of retirees and welfare recipients—is old news in some political circles, but it’s gotten scant attention from the folks who desperately want America to follow the European model. That’s...
Read More