Government Spending

Discussion in 'Congress' started by bluesman, Apr 4, 2014.

  1. bluesman
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    bluesman Registered Damn User

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    Since Congress is in charge of spending, I am posting in this thread in the "Congress" section of the forum.


    I heard this guy, Bill White, the former Houston Mayor, being interviewed on the radio yesterday and I was impressed with what he was saying. You can click on the link to read a different interview that he did also.

    BOOK REVIEW & Conversation: 'America's Fiscal Constitution' by Bill White | The Rivard Report

    In the book – which is surprisingly readable, despite being dense with information. White examines periods in American history when the government went into debt. Using these examples, he elucidates part of an unwritten constitution, the American Fiscal Tradition, that guided how the government spent money, levied taxes, and borrowed money.

    For those of us who came of voting age post-2001, it’s full of surprises.

    His conclusion: America grew into the superpower that it is on a “pay as you go” plan, borrowing money only to preserve the nation, expand and connect the nation’s borders, wage war, and during severe economic downturns. When they borrowed, repayment was a front and center priority in the short years that followed.

    What’s different now, White explains, is that both parties lack the political will to directly correlate spending and taxes. Our nation is borrowing money to pay for normal expenses – like Medicare. Meanwhile we continue with a wartime budget that was never financed through taxes. The problem is bipartisan, and White offers up bipartisan suggestions to get a conversation rolling. He maintains that while polarized leadership may have different desires when balancing the budget, history shows that if it’s a high enough priority for both parties, it can happen. And it would really help if the voters knew what to demand.

    “America’s Fiscal Constitution” might not be this summers #1 beach read, but if it were, we’d be a long way toward a more informed electorate.
     
    • Informative Informative x 1
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Overall spending increased, But Spending on Defense, Homeland Security, Justice Declined...

    Federal Spending Increased $183.9B in FY15—But Spending on Defense, Homeland Security, Justice Declined
    October 19, 2015 | - Even as overall federal spending increased by $183,890,000,000 from fiscal 2014 to fiscal 2015, spending for the departments of Defense, Homeland Security and Justice declined, according to the Monthly Treasury Statement for September.
    See also:

    Washington Sets Stage for Another Financial Crisis
    October 19, 2015 | My 13-year-old son told me at the dinner table the other day that Franklin Roosevelt was one of America’s “greatest presidents” because “he ended the Great Depression.” He’s usually a good student, so I checked where he got this tripe, and sure enough, the fairy tale was right there in his American history book.
    Related:

    $496,000 State Department Grant Uses Weaving to Empower Women, Girls in Timor-Leste
    October 16, 2015 | - The State Department is planning to award $496,000 in taxpayer funds to help female weavers in the Southeast Asian nation of Timor-Leste.
     
    Last edited: Oct 20, 2015
  3. AdvancingTime
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    AdvancingTime Senior Member

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    In November of 2014 the national debt was poised to pass the 18 trillion mark. As of now the National Debt Clock shows 800 billion dollars has been added to the total and the amount owed continues to grow. A major concern for this writer is that in 2017 entitlements are poised to balloon causing a massive spike in government spending.

    The myths the budget is under control and that a scenario of growth coupled with a falling deficit will allow us to outgrow many of the problems we face brings with it a false optimism and hope. The fact is we are mired in the mist of the greatest government debt bubble in the history of the world. More concerning this subject in the article below.

    http://brucewilds.blogspot.com/2015/08/national-debt-is-exploding.html
     
  4. AdvancingTime
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    AdvancingTime Senior Member

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    At one time a billion dollars was a massive amount of money and it still is. Most people that have not thought about it might not think so considering how modern media and politicians throw the "B" word around. A million is a large number so the magnitude or difference between billion and million is very important.

    To put it in perspective think in terms of someone working every year from the age of 20 until they are 60 making $25,000 a year. Their total income over their life would be one million dollars. Below is an article that attempts to bring into focus the massive size of a billion dollars.

    Advancing Time: An Ugly Math Primer On American Debt
     

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