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Tag Archives: Budget

Some time ago I stumbled on the CATO Institute’s Dan Mitchell.  He has an awesome video on how to balance the budget; a concept I’ve taken a liking to:

He also has his own blog that he regularly contributes to.  The other day he referenced a great post of his where he links economic freedom to prosperity:

What’s responsible for the turn-around in each of these nation’s welfare?

As Mr. Mitchell says:

— Chile’s score jumped from 5.6 in 1980 to 8.0 in 2008, and the country now ranks as the world’s 4th-freest economy (ahead of the United States!).

— Argentina’s ranking has improved a bit, rising from 4.4 to 6.0 between 1980 and 2008, but that still only puts them in 94th-place in the world rankings.

— Venezuela, by contrast, is embarrassingly bad. The nation’s score has dropped from 6.3 to 4.4, and its ranking has plunged from 22nd-place in 1980 to 121st-place in 2006.

Chile was the poorest and is now the most wealthy of the three.  Venezuela has seen just the reverse.

Fascinating.

So, yesterday I posted about a possible solution to the deficit and the debt. In those plans I accommodated those on the right who insist on a plan that includes no new revenues due to tax increases.  Further, I accommodated those on the left who insist on a plan that doesn’t cut; in fact my plan GROWS government each and every single year.

As I ended my analysis I demonstrated a method by which both of those targets were met AND we backed away from the debt limit that we are struggling with today.  The solution began to reduce the the deficit in year 1.  And it balanced the budget in year 19.  It’s the perfect trifecta.

But what if we can do better?  What if we can reduce the amount of time in which we are free of the deficit?

I think we can:

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The talk of the town is the debt limit.  Raise it or not raise it; and what it would take TO raise it.

Reasonable people can agree on a couple of things:

  1. We are in debt and it’s getting worse.
  2. To balance the budget, there needs to be a combination of an increase in revenue and a decrease in spending.

I honestly feel that if you were to ask this question, hidden in such a way as to bypass the normal political partisanship, every single American would agree.  If the checking account is overdrawn, a second job becomes something to consider and a review of the household spending becomes a priority.

But, how do we agree on such a combination when the discussion changes from the household budget to the federal budget?  How can we get folks who demand that we raises taxes together with folks who demand we don’t?  How do we get people who refuse to cut spending to shake hands with those who feel we HAVE to cut spending?

I propose that we do it by doing neither.

Watch:

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The North Carolina legislature passed a budget.  This budget passed both house of  properly elected lawmakers.  Then, this budget was vetoed by the Good Govna’ of the Great State of North by God Carolina, herself properly elected.

Bev Purdue certainly can veto bills she doesn’t like.

After learning of said veto, the legislature convened and took up  vote to over-ride the veto.  And over-ride that veto the legislature did.  And so, the budget became law without the consent of the governor.

That, however, is not the end of the story.

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The Democratic governor of Minnesota backed down yesterday.  Said governor, who claimed to be elected into office with a mandate, has realized that he’s damaging the state of Minnesota.  Unlike his election, the election of a republican congress DOES carry a mandate.  And that mandate is “no new taxes”.  So, after allowing the state to experience a government shutdown for nearly two weeks, the governor accepted a deal that the republicans had offered as far back as June 30.

Despite my serious reservations about your plan, I have concluded that continuing the state government shutdown would be even more destructive for too many Minnesotans,” Dayton wrote to legislative leaders. “Therefore I am willing to agree to something I do not agree with — your proposal — in order to spare our citizens and our state from further damage.

Dayton walked away from the edge.  I suspect that he realized his partisan agenda didn’t mesh with the responsibilities of governing a state.  And he relented.

This should serve as a guide to national republicans.  This is how the debate is to be won.

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Minnesota is closed.

As of 12:01 AM July 1, the state has shut down.  A disagreement over how to balance the budget between the Democrat governor and the Republican Senate has caused a stalemate.  Without a budget, the state government officially closed Friday morning.  State parks, rest areas, road construction and other services were shuttered.

State employees were sent home.

The battle just got real for a whole bunch of people; a WHOLE bunch.

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For the first time since Ulysses S. Grant was President, the North Carolina budget has been proposed by a republican controlled body.

And the state governor, Beverly Perdue, didn’t like said budget.  So, she vetoed it.

The state senate has a veto proof majority; the house, not so much.

But tonight the governor was told that she must obey the will of the people.  Her veto was overruled in the house and will be sent to the senate.

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North Carolina government continues to debate the budget.  Even as the state’s deficit grows, the governor refuses to step back from spending.  And the number 1 line item in the budget?

Education.

This is governor Purdue’s explanation:

“We cannot go backward on education. It’s part of who we are as a people in this state and it’s what has differentiated us as a leader in the South,” Perdue said, according to her staff. “We are North Carolina, and we have chosen to become that because of our generational legacy of education.”

We cannot go backward.  Backward.

In what way and manner is she thinking we’ll go backward?

Spending?

Sure, but more spending doesn’t equate to better education.

She is preaching the old Democrat canard; Defend the defined solution – Don’t debate the problem.

See, the Democrats feel that the only way to improve education is to spend more.  Therefore they feel that as long as they are able to defend the fact that we want to improve education, and who doesn’t, we should only continue to spend more and more.

Yet not one once of study goes into the fact that education outcomes don’t always depend on money.