limit on federal spending Archive

20 by ’20: A Limit on Federal Spending

By Dennis Canfield.     “…  It's time to try something new.” - President Barack Obama, introducing his $3.8 trillion budget for 2011---which proposes that our federal government spend 25 cents of every dollar earned by every American, rich and poor alike.  This is new.  Before World War II, our government typically spent 10% less...
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Postponing the Pain

Economist Charles Wheelan writes occasionally for Yahoo Finance, and he's always terrific.  In a recent article he suggests that the President extend the current graduated tax structure, with a plan to balance the budget in 3 or 4 years (when the economy is stronger) by cutting spending and adding consumption taxes...
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Letter To A Congressman

By John Lumbard.   Dear Congressman; In high school we all learned that our Congress has the power of the purse.  Our legislators have other powers and responsibilities, but their most basic duty is to ably manage the monies that they extract from reluctant and disillusioned taxpayers and voters.  They have failed...
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An American Promise

Charles Peter Carruthers, a native of Dumfries, Scotland, launched and managed the San Francisco office of Price Waterhouse almost a century ago.  He left to his heirs the following "10 Points" of good government and fiscal responsibility:  1. You cannot bring about prosperity by discouraging thrift. 2. You cannot strengthen the weak by...
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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...
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Sustainable Government

By James Schaefer.   In a recent Opinion piece in the Wall Street Journal (Tax Aversion Syndrome and Our Deficit Future), Peter G. Peterson writes about Congressional Budget Office projections that show the public debt rising from its current 60% of GDP to 233% in 30 years, and 500% in 50...
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Starve the Beast (of my choice, please)

by Michael Smith Last week, Robert J. Samuelson of the Washington Post penned a meaty column about the country’s fiscal outlook and the choices we face about the size and scope of government. It’s no surprise that a moderate conservative like Samuelson would tackle these issues, but until recently, a left-leaning...
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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...
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