Tag Archives: federal budget

The Creeping Crises

BY MICHAEL S. JOHNSON  |  SEP 27, 2021

“A difficult or dangerous situation that needs serious attention.”
Merriam-Webster Dictionary definition of crisis

Crisis is a term not to be used lightly.

There are more crises confronting the country than there have been in decades. Far from hyperbole, “crisis” fits like a glove on the resurgence of COVID-19, the humanitarian debacle at our southern border, and the record number of homicides on our streets, too many of which have put teenagers and small children in the bullseye. We’ve had record floods, record fires, record heat, record drought, all crises when you consider the number of related deaths, lives and property destroyed, and damage to the environment.

But there are several other crises that are in urgent need of serious attention because their consequences can be just as devastating to millions. They’re insidious, not the kind that bring eyeballs and clicks to news stories. They creep up slowly and are dismissed because no one knows how to fix them.

A perfect example is the Federal budget, over which Congress and the President are engaging in age-old partisan one-upmanship. We haven’t adopted a legitimate Federal budget in decades.

Budgets are gargantuan political and fiscal monstrosities that reach into every aspect of American life. They’re like the Titanic. If not designed, built, and steered with the skill of a seasoned seafarer, they will sink functional fiscal policy. Continue reading →

Imagine There’s No Trust Fund…

BY FRANK HILL
Reprinted from TelemachusLeaps.com

…It’s easy if you try.

We are constantly reminded of just how great of a job FDR’s advisors did in the Great Depression ‘selling’ the American people on the whole notion of Social Security being some form of ‘insurance’ or ‘pension’ plan.

Which is it: ‘Insurance’ or ‘Retirement’? Or both? Who the heck really knows nowadays almost 80 years later? Continue reading →

Fiscal Cliff Tragedy/Comedy Part II

BY MICHAEL S. JOHNSON

“Do you ever get the feeling that the whole world is a tuxedo and you are a pair of brown shoes?”

That was comedian George Gobel’s quip after he was upstaged during  a 1969 Johnny Carson Show by the unscheduled appearances of Dean Martin and Bob Hope.

Forty years later the whole country is a tuxedo and Washington is a pair of brown shoes–out of step, out of fashion, out of vogue and out of touch with the realities of governing the country. Continue reading →

Governing Drunk on Partisanship

BY TONY BLANKLEY

Reprinted from RealClearPolitics and Washington Times

If future historians look back on the ruins of the American economy after a U.S. bond crisis struck in the second decade of the 21st century, many causes will be noted. Obviously, it will be seen that for decades before the catastrophe, the U.S. was spending vastly more than it could afford on government health and retirement programs.

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Congress:History is Calling, Please Answer

BY MICHAEL S. JOHNSON

In the spring of 1981 Office of Management and Budget Director David Stockman sat for weeks at a long table in room H-228 of the Capitol, his beady eyes peering over stacks of thick, black 3-ring binders containing the detail on most every federal program.

Stockman was holding over budget negotiations with his former colleagues in the House of Representatives. His mission was to cut spending, cut taxes, increase defense, and help his President, Ronald Reagan, usher in a new era of smaller, limited government, entrepreneurial innovation, individual freedom, and global prestige.

Piece of cake.

Few if any at the table, maybe with the exception of Jack Kemp, knew they were making history at the time. But they were, in the same way congressional leaders did for Lyndon Johnson’s Great Society and Roosevelt’s New Deal and McKinley’s and Teddy Roosevelt’s regimes of political and regulatory reforms.

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What Is A Tax Expenditure?

BY FRANK HILL

Reprinted from telemachus.com

 Do you ever get the strange feeling that someone might be getting a better deal under the same federal tax code than you are?

Well, they are…millions of your fellow Americans are.  To the tune of close to $1 trillion in saved tax payments per year. Each year.  And you keep paying all of your taxes like a great American without even knowing why.

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