Tag Archives: balanced budget

Populism Run Amok

BY JOHN FEEHERY
Reprinted from TheFeeheryTheory.com

First published in The Hill.

Andrew Jackson was our nation’s first populist president.

He ran against the moneyed Eastern Establishment and abolished the Second Bank of the United States.

Jackson also was the only president to pay off our national debt. Soon after erasing the debt and squashing the national bank, an early version of the Federal Reserve, the American economy went into a severe depression.We have never paid off our national debt again. Continue reading →

When is ‘Compromising’ not ‘Compromising?

BY FRANK HILL
Reprinted from Telemachus.com

We have a serious problem in America today.

Many Americans on both ends of the political spectrum think ‘compromise’ is a 4-letter word. It is clearly not. There were 10 letters in it last time we counted.

Beyond that mere formality, the whole concept of ‘compromising’ is met with disdain and scorn by activists at both extreme ends of the political spectrum.

The rest of the nation? They think our elected leaders in Washington are flat-out ‘crazy’ for not cutting deals and fixing what ails us as a nation. 32% of them in North Carolina alone are now officially registering as ‘Not Democratic’ and ‘Not Republican’ as they sign up as Unaffiliated/Independent voters and that number is rising by 8% per year. What does that tell ya? Continue reading →

Revisiting Humphrey Hawkins

BY JOHN FEEHERY

Reprinted from the Feehery.theory.com

On the eve of St. Patrick’s Day in 1978, the New York Times reported that the House approved by legislation, which established the official policy of the United States that the unemployment rate should be 4%. “The bill authorizes the use of fiscal and monetary policy, public service jobs, job training and counseling and all other means to achieve full employment…The legislation was supported by a coalition of labor, civil right, liberal, religious and women’s groups and was backed by President Carter.” Amendments offered by Republicans to require a balanced budget and achieve an inflation goal of 3% were rejected, and most GOPers voted against final passage of the bill, calling it an empty promise.

Continue reading →