What We Need From the Candidates

cropped-bob-shapiro.jpg   By Bob Shapiro

The US is 5 months into Fiscal Year 2016, and the 2016 Presidential nomination process is moving along quickly. It looks like we may know who the two Big Party candidates will be within just a few months.

Even so, it appears that the candidates, and the “question asking” media have been ignoring one of the economic elephants in the room. I’m referring to the eternal US Budget Deficit, and the National Debt it causes, which are destroying our once great country.

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How to Balance the Budget

cropped-bob-shapiro.jpg   By Bob Shapiro

The US federal Budget has been in Deficit for generations. Our leaders in Washington have borrowed from our children without any prospect that the money will be paid back, at least not in Dollars with anywhere near the same value.

The current National Debt stands at over $18 Trillion, and with annual deficits resuming their previous $1+ Trillion, some projections are that the National Debt will double within 10 years. If the current levels are not sustainable, why would any sane person expect that a $36 Trillion National Debt could be reached without a collapse of the US Economy?

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Taxes vs Subsidies

cropped-bob-shapiro.jpg   By Bob Shapiro

There’s a truism in economics that, if you want more of something you subsidize it, and if you want less of it then you tax it. A quick look at government policy here in the US shows that this is as true today as it ever was.

But, since Americans have been taught to have knee jerk reactions, let’s try just to look as dispassionately as possible, not considering whether any of the policies are “needed desperately,” “are for a good cause,” or some other worthwhile purpose. Let’s just look at what is.

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Putting Uncle Sam on a Diet

By Bob Shapiro

I have written several times that every Dollar that our government spends must come out of the private, productive sector of the US Economy. I have called for Balancing the Budget, setting a Dollar Limit on federal spending, and other measures to reduce government spending. The Heritage Foundation has put together a detailed plan for shrinking our federal government, outlining 106 specific proposals for cutting spending. Though there are some of their recommendations I do not agree with – they want to increase spending for the Department of Defense even though the US spends more than all other countries combined – there is a wealth of good ideas.

Please set aside some time to look at their proposals. I think you’ll be glad you did.

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Rand Paul’s SOU Rebuttal

Senator Rand Paul, a likely 2016 Presidential candidate, has given a rebuttal to President Obama’s State of the Union Address. It offers a real opposing viewpoint, with specific policy suggestions, rather than the usual platitudes that too often mark opposition party remarks. Whether you support what he says (as I do) or not, you should read (or watch below) what he has to say.  –Bob

Re-Blogged From http://www.Reason.com

The full text of Sen. Rand Paul’s response to the president’s State of the Union address is now available—in advance of him actually giving the speech. Here it is, via Breitbart:

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Creating 35 Million New Jobs

cropped-bob-shapiro.jpg   By Bob Shapiro

According to the Bureau of Labor Statistics (BLS), the US has 156 million people 16 and over, who make up the civilian labor force – 8.7 million of these are out of work. If you add in those Americans who are working part time but want full time and those Americans who have given up hope of finding any job, there are closer to 35 million Americans either unemployed, work part time because they can’t find a full time job, or have given up hope of finding any job.

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Official US National Debt Passes $18 Trillion

cropped-bob-shapiro.jpg   By Bob Shapiro

The Official US National Debt (that’s NOT including either Agency Debt or Unfunded Liabilities) just passed the $18 Trillion mark. If every American (including babies and 100-year olds) were working and earning the average US wage, that $18 Trillion would come out to about 2600 hours worth of debt – EACH!. That’s over 1 year and 3 months, at a 100% tax rate, to pay off just the official National Debt.

Of course, we don’t have that many Americans working. Dividing the debt by the roughly 100,000,000 Americans working, at the national

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