Democratic candidates Bernie Sanders and Hillary Clinton are promoting universal free college. This campaign promise is getting a lot of positive response for the obvious reason, as reported by the NY Times, that college tuition increased 439% from 1982 to 2008, while income increased only 147%. These trends in tuition and income continue today. I… Continue reading #9: Free College – Are you willing to pay for it?
Well, so far my recommendations for solving the problem of the national debt include privatizing the U.S. Post Office as the first step toward eliminating 50% of federal employees, reducing Social Security benefits to match revenues, and converting Medicare and Medicaid from an insurance plan to a minimum health benefit plan. Obviously, I’ll never be… Continue reading #8: The Connection Between the National Debt and Abortion
In previous posts, I have been illustrating projections in Obama’s 2017 budget out to 2025, and comparing that budget to four alternative scenarios which could put the federal budget on a trajectory toward balance and paying down the national debt. Now let me ask what would happen if the U.S. Congress and the President kick… Continue reading #7: Beyond 2025: The Consequence of Political Paralysis
My last post discussed the necessity, and the unavoidability of having to cut mandatory programs in order to balance the federal budget and pay down the national debt. Any discussion of cutting Social Security and Medicare, however, has been labeled the “third rail” of politics my entire adult life. Why? Because these benefits go to… Continue reading #6: Touching the Third Rail
If we accept that it is possible to reduce non-defense spending in the federal budget by 50%, we now understand that even this drastic change in spending policies will not solve the problem of our growing national debt. Before I present the case for addressing federal entitlement programs, let me illustrate the debt problem with… Continue reading #5: The Entitlement Wall
In my last post, I noted that there are 9 government employees at all levels for every 5 employees in manufacturing, but the number of federal employees has been in a long-term decline since World War II. I also showed how the average level of non-military federal employment in the years 1962 – 1970 was… Continue reading #4: Can We Change the Non-Defense Budget?
In my Introduction, I identified 3 expense types in the federal budget: appropriated, mandatory and interest. Then, in my review of Fred’s situation, I highlighted that in Obama’s 2017 Federal Budget plan, the federal government is planning to spend 20% to 25% more than it receives in tax receipts. This will increase the national debt… Continue reading #3: The Appropriated Budget