Author Archive

The Elephant In The Room: Federal Spending

For all the talk of “revenues” and new taxes proposed by those on the left, it’s hard to have a discussion about our nation’s fiscal health without tackling the gigantic elephant in the room: the sheer enormity of federal spending.

Fighting back in that messaging war with elegant simplicity is again Rep. Paul Ryan, who summarized his argument in one simple chart during his appearance yesterday on Meet the Press. Watch the video, share it with your friends, and be sure to retweet with the hashtag #SpendingIsTheProblem

Fighting for a Permanent Earmark Ban

While Ending Spending’s work two years ago led to the current temporary ban on Congressional earmarks, the ban is still voluntary. Should Members of Congress one day be tempted to go back on the public dole, nothing in current law would stop them.

That’s why we’re extremely excited to see Claire McCaskill join Pat Toomey, both longtime taxpayer heroes and opponents of earmarks, to reintroduce the bipartisan Earmark Elimination Act, a much-needed piece of legislation that would permanently make pork-barrel spending a thing of the past.

Ending Spending is proud to stand with Senators McCaskill and Toomey on this important piece of legislation. We’ll keep you updated on its progress.

Ending Spending Backs Cuccinelli for Va. Governor, Snyder for Va. Lt. Governor

Ending Spending – a nonpartisan advocacy group dedicated to reducing excessive government spending and waste, and restoring responsible spending practices in government – today endorsed fiscal conservatives Attorney General Ken Cuccinelli for governor and entrepreneur Pete Snyder for lieutenant governor in Virginia’s 2013 gubernatorial race.

“As the eyes of the nation turn to key gubernatorial races, the issue of economic responsibility will be a yardstick for how voters will measure up candidates, and Virginia will play a critical role in the ongoing national discussion of how we solve the problem of growing state and federal debts,” said Brian Baker, president of Ending Spending. “Ken Cuccinelli and Pete Snyder recognize that our country cannot get on the path to prosperity with bigger government and more spending and debt.”

Baker added, “We were proud to work with Attorney General Cuccinelli on the legal fight against Obamacare, which contains over a trillion dollars in new spending over the next ten years. And Pete Snyder is a highly successful innovator and job creator who knows that the only way to stop saddling future generations with crushing debt is to create long-lasting economic growth. Their demonstrated records as conservative leaders make them a great team to lead Virginia.”

Fiscal Cliff Roundup

Still recovering from the New Year’s Holiday Fiscal Cliff debate debacle and need a refresher on what we just went through, and what’s to come? See below:

The Economist: “The Fiscal Cliff: Nothing to be Proud of”

George Will: “Time for a balanced-budget amendment”

Ramesh Ponnuru: “Why a Debt-Ceiling Fight Is Good for the Country”

The Struggle Continues

Special guest post by Joe Ricketts

I’ve long felt that being a good citizen means not just watching from the sidelines but getting actively involved in the big policy debates of our time. It was in this spirit that I started a non-partisan advocacy group called Taxpayers Against Earmarks back in 2010. Taxpayers Against Earmarks focused on educating the public about the dangers of earmarking, and early in 2011 we were happy to see Congress declare a moratorium on this fiscally irresponsible practice.

With the earmarking campaign behind us, we decided to take on an even bigger challenge — the larger issue of out-of-control federal spending and the crushing burden of government debt it leaves in its wake. We renamed our group Ending Spending and for the past two years, we have been doing what we can to educate the public and help elect political leaders who understand the importance of balancing the budget and reducing the debt.

This promises to be a much longer campaign than the one against Congressional earmarks, but it’s a battle that must be waged. With this in mind, I’m pleased and proud to report that my sons Todd and Pete are coming to work with me at Ending Spending. Given the critical importance of getting our fiscal house in order, it’s more important than ever for groups like Ending Spending to continue making the case for smarter spending and smaller government. And with Todd and Pete’s help, that’s just what we’re going to do.

Ending Spending’s New Ad: Past Due

Today, Ending Spending launched “Past Due,” an ad detailing the big-spending record of Washington politician Joe Donnelly.

America faces a record national debt of over $16 trillion, and we can’t afford policies that make it even worse.

That’s why we need leaders like Richard Mourdock, a proven advocate of limited government who will fight Washington’s irresponsible spending.

Watch the ad below, and let us know what you think in the comments.

MUST READ: New Poll: Majority Say Natl. Debt Has Direct Impact on Personal Finances

Americans Split On Which Presidential Candidate Would Better Manage Their Family Budget

Arlington, Va. – Public Notice today released the results of a national survey of likely voters on the issues ofdebt and spending, as well as which presidential candidate is more trusted to manage a family budget. The survey was conducted by the Tarrance Group via telephone from October 15-18, 2012, among 1,000 likely voters with a margin of error of +/- 3.1 percent.

On the question of whether the national debt has impacted personal or family financial situations, an overwhelming majority (88%) said it did, with a significant majority of seniors (61%), Independents (58%) and middle class families (58%) saying it had a “major impact.” The survey also found Americans were split between Mitt Romney (47%) and Barack Obama (46%) on who they trusted more to manage their family budget. Across key constituencies such as middle class families, Independents, seniors, married women and those likely to vote, however, Romney maintained an edge.

Gretchen Hamel, executive director of Public Notice, issued the following statement regarding the poll:

“President Obama said earlier this year that the debt wasn’t a problem in the ‘short-term,’ yet millions of Americans believe it’s having a major impact on their personal finances. Regardless of what the pundits in Washington say, voters are looking for a plan to reduce the debt now. With just over two weeks until Election Day, both candidates would be wise to focus less on partisan one-liners and empty applause lines and more on getting our fiscal house in order.”

Key Findings:

-Voters across the country report experiencing an impact from the level of the federal debt. A majority (56%) say the level of federal debt has had a major impact on their family’s personal financial situation, while another 32% also say it has a minor impact. Just 9% of voters say the debt has had no impact at all on their personal financial situation.

-A majority of seniors (61%), Hispanics (53%), Independents (58%), and middle class families (58%) say the debt has a major impact on their personal finances.

-The data also show that voters are statistically split on who they trust the most to set and manage their family’s budget. Overall, 47% trust Mitt Romney the most, while 46% trust Barack Obama the most. However, the results show key voter groups prefer Mitt Romney to manage their family budget:

-Mitt Romney’s support on this measure is also more bi-partisan than support for Barack Obama. While 28% of “soft” Democrats trust Romney the most to handle their family’s budget, only 6% of “soft” Republicans trust Obama the most.

Click here to read the full polling memo.

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Public Notice is an independent, nonpartisan, non-profit, 501(c)(4) organization dedicated to providing the facts and insights on the effects public policy has on Americans’ financial well-being.

MUST READ: The 7-11 Presidency

By Jeffrey H. Anderson, The Weekly Standard

In the wake of the Treasury Department’s newly released summary of federal spending for 2012, it’s now possible to detail just how profligate the Obama years have been. Here’s the upshot: Under Obama, for every $7 we’ve had, we’ve spent nearly $11 (or, to be more exact, $10.95). That’s like a family that makes $70,000 a year — and is already knee-deep in debt — blowing nearly $110,000 a year.

Read more

MUST READ: Info you should know

By The Peter G. Peterson Foundation, September 2012

Having an informed, honest political debate about our nation’s fiscal challenges has never been more important than it is today. Our nation’s debt is currently at 70% of GDP. Under our current policies it will hit 90% of GDP by 2022 and soar to beyond 200% of GDP in the next 30 years. Many economists agree that debt-to-GDP should be 60% or less and that levels above 90% can be risky to economic growth. With the “Fiscal Cliff” approaching, our elected leaders will have an enormous opportunity to create meaningful policy reform.

The Peter G. Peterson Foundation’s State of the Union’s Finances is an all-in-one guide to help you get up to speed on important fiscal policy matters before you head to the ballot box. The guide offers a detailed look at current spending — including Social Security, major health care programs, and defense — as well as government revenues. You’ll have a deeper understanding of the real, long-term fiscal challenges America faces and the questions that should be addressed to help us get on the path to a sustainable fiscal future.

To read the entire article and get the guide, click here.

MUST READ: Budget deficit tops $1 trillion for fourth time

By Stephen Dinan - September 10, 2012
The Washington Times

With three weeks still to go in the fiscal year, the federal government already has notched its fourth straight trillion-dollar deficit, the Congressional Budget Office said Monday.

CBO, which releases estimates each month, said the government ran a $192 billion deficit in August, putting the federal government $1.17 trillion in arrears for fiscal 2012, which ends Sept. 30.

The $192 billion deficit was the worst August on record, though the total deficit so far this year is actually lower than it was in 2011, when it stood at $1.23 trillion after 11 months.

CBO said rising wages have brought more tax revenue into the government this year, while new spending has risen at a slightly lower pace, which explains the declining deficit. Spending on Medicaid and unemployment benefits both dropped as heightened stimulus spending ended, and lower costs for the wars in Afghanistan and Iraq also have meant less spending on defense.

To read the entire article, please click here.

 

Taxpayers Connected:

Our national debt is  
$ 00 00 , 000 000 , 000 000 , 000 000 , 000 000
and each American Taxpayer owes $119,236 of it.