Category Archives: U.S. Congress

The $98.8 trillion hole

Debt and deficits, Politics, U.S. Congress

tax, taxes, debt, deficits, spending, trillion, State of the Union, deficit hawks, balanced budget amendment, Jonathan Bydlak, immigration, $98.8 triillionBy Steve Brawner, © 2018 by Steve Brawner Communications, Inc.

A report last week offered two insights on the nation’s fiscal future: How big a hole we’re digging, and what it would take to stop.

Let’s start with the hole – one that will be $98.8 trillion deep only 30 years from now. That’s how big the government’s debt held by the public is projected to be by 2048, according to the Congressional Budget Office. The CBO is the nonpartisan government agency that advises Congress regarding fiscal matters.

That “debt held by the public” figure refers to debt borrowed from others. It’s currently $15.45 trillion. The total national debt – $21.1 trillion at the moment – includes that figure plus the money the government has borrowed from itself.

How big are these numbers? The country’s population is about 328 million. Dividing that into $21.1 trillion equals about $66,000 for each American. Both numbers will rise unless something happens to make them stop.

Continue reading The $98.8 trillion hole →

Budget balancing in my house, and the House

Debt and deficits, Politics, U.S. Congress
Steve Womack
Rep. Steve Womack is chair of the House Budget Committee.

By Steve Brawner, © 2018 by Steve Brawner Communications, Inc.

Balancing a budget is hard. I know, because that’s my job in my household. So I can empathize with U.S. Rep. Steve Womack.

Here are some things I’ve found to be true after spending countless hours crunching our family’s numbers.

– Much of your spending is difficult to cut. Your house payment, insurance, taxes, and many bills are almost set in stone. Such “mandatory spending” can consume the majority of your income.

– You can cut your “discretionary spending,” but it’s not easy. Spending less on groceries requires constant vigilance and an altered lifestyle. Also, discretionary spending includes nice-to-have “extras” that provide many benefits at relatively low cost, like subscriptions and community center memberships. Church and charitable giving are discretionary as well. Cut those?

– Because the above options are hard, you might tell yourself you can reduce “waste” and not have to change your lifestyle. That’s wishful thinking. Continue reading Budget balancing in my house, and the House →

On immigration, are we more mature than first-graders?

Politics, U.S. Congress

tax, taxes, debt, deficits, spending, trillion, State of the Union, deficit hawks, balanced budget amendment, Jonathan Bydlak, immigrationBy Steve Brawner, © 2018 by Steve Brawner Communications, Inc.

Let’s say your family and another are getting together for a Friday evening dinner. You both have first-graders.

The parents are preparing the meal when the children enter the kitchen. Your child wants to play with dolls. Their child wants to play a game. They both want their way.

The best response is for the adults to guide the children toward an agreement. Perhaps they could take turns with the dolls and game, or maybe find an acceptable third choice. If one child refused to compromise and demanded his or her own way, he or she would face a consequence.

We teach our children that life is about give and take, but then we approach national politics like it’s a zero sum game. If you can’t have all you want, then no one should get anything they want, including you. When your side is right and the other is evil, then gridlock is preferable to compromise.

No other issue illustrates this better than illegal immigration, which this week eclipsed all others because now we’re confronted with kids being warehoused temporarily in cages. Continue reading On immigration, are we more mature than first-graders? →

A pledge to reject debt and protect future taxpayers

Debt and deficits, Politics, U.S. Congress

tax, taxes, debt, deficits, spending, trillion, State of the Union, deficit hawks, balanced budget amendment, Jonathan BydlakBy Steve Brawner, © 2018 by Steve Brawner Communications, Inc.

Members of Congress shouldn’t be signing pledges. They take an Oath of Office to “well and faithfully discharge the duties of the office,” and that should be enough.

But if they’re going to sign a pledge not to raise taxes, they ought to sign another one promising to hold down spending. And if they’re going to abide by the first, they should abide by the second.

Forty-six senators and 208 House members have signed Americans for Tax Reform’s “Taxpayer Protection Pledge” promising not to raise taxes. According to the organization’s website, all six members of Arkansas’ congressional delegation have signed it. It’s been a powerful force in American politics. Signers have been reluctant to do anything that might be perceived as violating it, such as letting fuel taxes rise with inflation to pay for highways. In the meantime, Congress enthusiastically has cut taxes, as all six members of Arkansas’ delegation voted to do in December.

Continue reading A pledge to reject debt and protect future taxpayers →