RTCS

Budget

Return to Common Sense

March 30, 2014

Section: Domestic - Budget

The ever expanding budget reflects entitlements on autopilot to bankruptcy, monies for redistribution back to states, and new unfunded programs added every year which will require more than doubling marginal tax rates causing more damage than good to address these shortfalls.

The nearest thing to eternal life we will ever see on this earth is a government program.” Ronald Reagan.

 

Philosophy (Background, Issues, Objectives):

The Congressional Budget Act of 1974 created the Office of Management and Budget (OMB) to prepare projections of federal spending "based on the continuation of the existing level of government services."

·         In 1985, the Deficit Control Act ensured that spending would be adjusted to keep pace with inflation.

·         The Congressional Budget Office (CBO) uses the "current services baseline" and automatically increases the budgets of existing federal agencies every year even if Congress and the Senate do nothing. 

The budget process is defined, established by the Budget and Accounting Act of 1921, the Congressional Budget and Impoundment Control Act of 1974, and other budget legislation.

·         A budget is commonly seen as an instrument of determining how much to spend, how to allocate limited resources, and how to raise sufficient financing.

·         The Office of Management and Budget (OMB) prepares a projection of federal spending for the upcoming fiscal year, based on a continuation of the existing level of governmental services.

·         The Congressional Budget Office (CBO) then prepares a five year projection of budget authority, outlays, and revenues, and identify the resulting surplus or deficit.

·         The President must submit a budget to Congress each year by the first Monday in February.

·         Each year in March, the CBO publishes an analysis of the President's budget proposals.

·         The House and Senate Budget Committees each submit a budget resolution by April 1.

·         Appropriations committees then put together appropriations bills, considered in the House after May 15.

·         Once appropriations committees pass their bills, they are considered by the House and Senate, with a conference committee is typically required to resolve differences between House and Senate bills.

·         Once a conference bill has passed both chambers of Congress, it is sent to the President, who may sign the bill or veto.

·         Congress has not passed all of the appropriations bills before the start of the fiscal year, so Congress then enacted continuing resolutions to provide for the temporary funding of government operations.

o   In 2012, there are twelve appropriations bills which need to be passed:

§  Agriculture, Rural Development, and Food and Drug Administration.

§  Commerce, Justice, and Science.

§  Defense.

§  Energy and Water Development.

§  Financial Services and General Government (includes judicial branch, the Executive Office of the President, and District of Columbia appropriations).

§  Homeland Security.

§  Interior and Environment.

§  Labor, Health and Human Services, and Education.

§  Legislative Branch.

§  Military Construction and Veterans Affairs.

§  State and Foreign Operations.

§  Transportation and Housing and Urban Development.

o   Multiple bills are sometimes combined into one piece of legislation, such as the Omnibus Appropriations Act, 2009.

o   The Office of Management and Budget has the mission to oversee agency and regulation performance, but operates on a voluntary basis encouraging use.

o   Duplication and waste are not examined since it might require downsizing of individual departments and agencies.

The federal government produces a budget each year that would not pass a public audit.

o   The totals for the current and upcoming fiscal years are only projected amounts.

o   Unfunded liabilities such as Medicare, Social Security, and Fannie Mae and Freddie Mac are not included in the budget numbers.

o Establish accounting standards for the federal government
o Conduct audits of internal controls and financial management.
o Conduct program evaluations and analyses of a broad range of federal activities.
·         In 2010 for the 14th year in a row, the U.S. Government was unable to express an opinion on the consolidated financial statements because of control weaknesses and other limitations.

Annual governmental budget process is only a spending plan.

o   Government spending exceeds 50% of GDP in France and Sweden.

o   Government spending is more than 45% of GDP in Germany and Italy.

o   Excessive government has serious adverse effect: slower growth, higher unemployment, and lower living standards.

o   CBO projects federal spending to grow to 40% of GDP due to entitlement growth.

o   Social Security is projected to expand by 6% annually.

o   Medicare is projected to expand by 7% annually.

o   Medicaid is projected to expand by 8% annually.

o   Net interest spending will consume an additional 9% to 46% of GDP unless programs reined in.

o   Increasing marginal tax rates will have to more than double, which is not economically feasible as a solution to these run-away costs.

There are only two sources of governmental revenue.

The federal budget includes a staggering 1,804 subsidy programs, including grants, loans, insurance, scholarships, and other benefits.

·         The growth in the number of subsidy programs illustrates the government’s increasing disregard for federalism (the constitutional principle that the federal government ought not to encroach on state, local, and private activities).

·         State governments are becoming little more than regional divisions of the national government and nonprofit groups and businesses are becoming tools of the state.

Government has built and continues to mismanage several major infrastructure programs:

Internet access is becoming personal and business basic requirement.

 

Principles:

Government programs must each be self sustaining.

The budget process must advance the following governance goals:

Office of Management and Budget (OMB) criteria for “emergency” spending (all five must be met):

Federal government should subsidize interstate infrastructure projects.

Inter-state wealth redistribution is not a valid purpose for any program.

 

Recommendations:

Short Term, Reform federal budget process:

o   Institute biennial budgeting and appropriations to restore order to the spending process.

o   Enact long term budgets and review at least every five years with triggers or action-forcing devices that automatically make changes when spending exceeds budgeted amounts.

o   Deliver annual report to American citizens of the country’s financial condition.

o   Include State Children’s Health Insurance Program (SCHIP) as separate line item.

o   Appropriate truly "non-discretionary" obligations, like Social Security and Medicare, as the first task. 

o   If appropriations tasks from the previous year have not been completed, no new appropriations should be allowed to ensure that accounting estimates are based on complete and truthful information.

o   Require explicit, current recognition of the future costs for such specialized programs as flood and crop insurance, Export-Import guarantees, and prospective bailouts at the time they are granted rather than the time they are likely to be paid.

Require Dynamic Analysis to evaluate any new tax policy macroeconomic changes:

Use Performance Assessment Rating Tool (PART) to evaluate existing program and regulation effectiveness.

o   ExpectMore.Gov developed to monitor program effectiveness.

o   Calculate benefits for all new programs, not just “major” (estimated economic impact greater than $100 million; less than 1% of all programs) programs.

o   Reduce regulation compliance burden.

o   Terminate programs and regulations that are ineffective or inefficient

Authorize a Presidential line item veto authority to limit “earmark” and “pork” projects.

o   Empower taxpayers to monitor federal spending with internet access tools.

Require audits of all government departments based on standard private business accounting practices.

Long Term, Downsize government, with particular emphasis on unsustainable entitlement spending:

o   Department of Agriculture ($142.0 billion annually).

o   Department of Commerce ($16.7 billion annually).

§  Abolish business subsidies should be abolished, including technology subsidies, handouts to fishermen, and minority business aid ($1.2 billion).

§  Eliminate Economic Development Administration funding ($469 million).

§  Terminate the International Trade Administration ($389 million).

o   Department of Education ($106.9 billion annually).

o   Department of Energy ($38.3 billion annually).

o   Department of Health and Human Services ($868.8 billion annually).

o   Department of Housing and Urban Development ($62.5 billion annually).

§  Privatize Federal National Mortgage Association (Fannie Mae), ($6.5 B).

§  Privatize Federal Home Loan Mortgage Corporation (Freddie Mac), ($6.5 B).

§  Privatize Government National Mortgage Association (Ginnie Mae).

o   Department of Interior (12.0 billion annually).

o   Department of Labor (209.3 billion annually).

o   Department of Transportation ($90.9 billion annually).

§  Devolve the Federal Highway Administration ($51.8 billion annually) to the states.

§  Devolve the Federal Transit Administration ($15.5 billion annually) to the states.

§  Privatize air traffic control and end airport grants ($14.2 billion annually)

§  Limit Highway Trust Fund spending to level of revenue ($12B).

§  Privatize Federal Aviation Administration ($11.8B).

§  Eliminate the Community Development Block Grant as wasteful and duplicative ($1.6B)

§  Privatize Amtrak ($950M)

§  Eliminate Transportation Alternatives Program (TAP) ($800M)

§  Close down Maritime Administration ($325M).

§  Eliminate subsidies to the Washington Metropolitan Area Transit Authority ($125M)

§  Terminate the Essential Air Service (EAS) program ($100M).

§  Privatize the St. Lawrence Seaway Development Corporation ($31M).

§  Close down the Appalachian Regional Commission ($3M).

§  Devolve highway infrastructure to the states.

§  Privatize the nation’s airports, while ending federal subsidies.

§  Devolve seaport infrastructure to the states.

o   Medicare (325B) - Privatize into Personal Health Savings Accounts.

o   Social Security - Privatize into personal accounts.

o   Medicare Prescription Drug Benefit ($62B)

o   Medicaid ($186B)

o   SCHIP.

o   State Payment for Family Support ($4.1B).

o   Temporary Assistance for Needy Families ($18.1B)

o   Army Corps of Engineers ($4.9B).

§  Dams ($10.0B).

§  Energy Facilities ($10.0B).

o   Export-Import Bank.

o   Geographic Survey ($.5B).

o   Global Positioning Service ($7.0B).

o   Government Printing Office.

o   Legal Services Corporation ($350 M).

o   NASA ($15.7B).

o   National Weather Service ($2.3B).

o   Pension Benefit Guarantee Corporation.

o   Privatize the Postal Service ($8.1B).

o   Retirement Insurance, including Social Security ($527B).

o   Risk Management Agency ($3.4B).

o   Transportation Security Agency ($2.7B).

o   Excess electromagnetic spectrum ($150B).

o   Commodity lands (Forest Service, BLM) ($160B).

o   Government buildings and lands ($10.B).

o   Crop Insurance.

o   Flood Insurance.

o   Property Insurance.

o   Terrorism Risk Insurance (TRIA).

o   Windstorm Insurance.

o   Child Care Entitlement Grants ($2.7B).

o   Child Care & Development Grants ($2.1B).

o   Community Oriented Policing Services ($575M).

o   Community Service Grants ($631M)

o   Environmental Protection Agency ($3.6B).

o   Federal Transit Administration ($8.4B).

o   Foster Care & Adoption Grants ($6.5B).

o   Head Start ($6.8B).

o   Social Service Grants ($1.8B).

o   Administration on Aging ($1.4B).

o   Employment and Training Administration ($5.2B).

o   Low Income Home Energy Assistance ($2.1B).

o   Small Business Administration ($3.0B).

o   Substance Abuse & Mental Health ($3.2B).

o   Trade Adjustment Assistance ($1.1B).

o   Agency for International Development ($3.7B).

o   Corporation for Public Broadcasting ($466M).

o   Economic Development Administration ($392M).

o   Maritime Administration ($411M).

o   National Endowment for the Arts & Humanities ($254M).

o   Rural Development ($1.0B).

o   United Nations ($362M).

o   At-risk youth.

o   Disabled.

o   Early childhood development.

o   Economic development.

o   Homeless assistance.

o   International education.

o   Safe water.

Subsidize building Internet of the future across U.S.A. to provide universal wireless broadband access.

 

References:

The Wealth of Nations” by Adam Smith, 1776.

Policy Recommendations for the 105th Congress” published by CATO Institute, 1997.

Downsizing the Federal Government” by Chris Edwards published by CATO Institute, 2005.

The Debt Bomb” by Tom A. Coburn published by Thomas Nelson, 2012.

The Liberty Amendments” by Mark R. Levin published by Threshold Editions, 2013.

Citizens Against Government Waste (CAGW) tracks waste, mismanagement, and inefficiency in the federal government and publishes at http://www.cagw.org/site/PageServer .

Office of Management and Budget (OMB) ExpectMore.gov at http://www.whitehouse.gov/omb/expectmore/  .

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Government Schemes Cost More Than Promised” by Chris Edwards dated September 2003 published by The Cato Institute at http://www.cato.org/pubs/tbb/tbb-0309-17.pdf .

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Federal Aid to the States Ripe for Cuts” by Chris Edwards dated May 2004 published by The Cato Institute at http://www.cato.org/pubs/tbb/tbb-0405-20.pdf .

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Performance-Based Decisions in the President’s 2006 Budget” by Keith Miller and Alison Acosta Fraser dated March 17, 2005 published by The Heritage Foundation at http://www.heritage.org/Research/Reports/2005/03/Performance-Based-Decisions-in-the-Presidents-2006-Budget .

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Past Trends and Future Troubles in Federal Spending: A Look at the Federal Budget Chart Book” by Rea S. Hederson, Jr., Alison Acosta Fraser, and Michelle Muccio dated May 30, 2006 published by The Heritage Foundation at http://www.heritage.org/Research/Reports/2006/05/Past-Trends-and-Future-Troubles-in-Federal-Spending-A-Look-at-the-Federal-Budget-Chart-Book .

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Federal Budget Should Include Long-Term Obligations from Entitlement Programs” by Allison Acosta Fraser dated June 22, 2006 published by The Heritage Foundation at http://www.heritage.org/Research/Budget/em1004.cfm .

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Entitlement Reform Without a Tax Hike” by Peter Ferrara dated January 3, 2007 published by Human Events Online at http://www.humanevents.com/article.php?id=18744 .

The Republican Study Committee’s Taxpayer Bill of Rights: Making Federal Budget Accountability a Reality” by Nicola Moore and Alison Acosta Fraser dated March 14, 2007 published by The Heritage Foundation at http://www.heritage.org/Research/Budget/wm1394.cfm .

A Fiscal Wake-up Call” dated March 2007 published by The Concord Coalition at http://www.concordcoalition.org/events/fiscal-wake-up/fiscal-wake-up-call.htm .

Show Taxpayers the Spending” by Phil Kerpen dated April 17, 2007 published by National Review Online at http://article.nationalreview.com/?q=MTgyNTdlNDI1NTA4NTZhMjNlN2E2OWYyYTQ5Mjc2MGI= .

Deficit Deceptions” dated June 15, 2007 published by Investor Business Daily at http://www.ibdeditorials.com/IBDArticles.aspx?id=266799073267524 .

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Broadband Triple Threat” by Cesar Conda dated July 18, 2007 published by National Review Online at http://article.nationalreview.com/?q=YzFkNzMzZGIxMWE0NzdiZjRhNzE4ZDdjMGZhOWMxNjI= .

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Congressional Spending: Past Abuse Is No Excuse for Today’s Excess” by Ernest Istook Jr. dated July 30, 2007 published by The Heritage Foundation at http://www.heritage.org/Research/Budget/wm1575.cfm .

Drain the Swamp” dated August 2, 2007 published by Investor’s Business Daily at http://www.ibdeditorials.com/IBDArticles.aspx?id=270946115100200 .

Bridges to Somewhere” dated August 4, 2007 published by Wall Street Journal Opinion Journal at http://www.opinionjournal.com/forms/printThis.html?id=110010425 .

The New Privatization” by Steven Malanga dated Summer 2007 published by City Journal at http://www.city-journal.org/html/17_3_privatization.html .

’Starve the Beast’ Origins and Development of a Budgetary Metaphor” by Bruce Bartlett dated Summer 2007 published by The Independent Review at http://www.independent.org/pdf/tir/tir_12_01_01_bartlett.pdf .

Fixing Flood Insurance Before the Next Disaster: House Bill Takes Several Steps in the Wrong Direction” by David C. John dated September 27, 2007 published by The Heritage Foundation at http://www.heritage.org/Research/Regulation/wm1645.cfm .

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Our view on catastrophic coverage: When the government sells insurance, everybody pays” dated November 12, 2007 published by USA Today at http://blogs.usatoday.com/oped/2007/11/our-view-on-cat.html?loc=interstitialskip .

What’s Left for Government to Do?” by Stephen Goldsmith dated January/February 2008 published by The American Magazine at http://www.american.com/archive/2008/january-february-magazine-contents/what2019s-left-for-government-to-do .

Balancing the Bottom Line” by Jeff Sessions and Johnny Isakson dated February 13, 2008 published by National Review Online at http://article.nationalreview.com/?q=MmUzNGNkZTEwZTI1Nzg2ODkwYWFhOTg2Y2MxMjQ5ZWY= .

The Privatization of Public Services” by John Chapman dated February 21, 2008 published by American Enterprise Institute at http://www.aei.org/publications/filter.all,pubID.27556/pub_detail.asp .

Entitlements Digging U.S. Fiscal Grave” dated March 5, 2008 published by The Minyanville Gazette at http://www.minyanville.com/articles/index/a/16155 .

Taking Back Our Fiscal Future” by Stuart M. Butler, Allison Acosta Fraser, and others dated March 31, 2008 published by The Heritage Foundation at http://www.heritage.org/Research/Budget/wp0408.cfm .

Federal Funds and State Fiscal Independence” by Sven R. Larson dated May 15, 2008 published by The Heritage Foundation at http://www.heritage.org/Research/Budget/bg2136.cfm .

Entitlement Reform, Not Tax Increases” by Peter Ferrara dated May 28, 2008 published by The American Spectator at http://www.spectator.org/dsp_article.asp?art_id=13277 .

Distrust Fund” by John Berlau dated June 17, 2008 published by The American Spectator at http://www.spectator.org/dsp_article.asp?art_id=13385 .

Swimming in Subsidies” by Eli Lehrer dated June 26, 2008 published by National Review Online at http://article.nationalreview.com/?q=NDM3NjQ1MzhmZTY4ODlmNTM0N2RlYjRjOGU3MjRiNWU= .

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Amtrak: Not a Model Railroad” by Douglas Stone dated September 16, 2008 published by Human Events Online at http://www.humanevents.com/article.php?id=28533 .

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Why Government Spending Does Not Stimulate Economic Growth” by Brian M. Riedl dated November 12, 2008 published by The Heritage Foundation at http://www.heritage.org/Research/Budget/bg2208.cfm .

Jumping Off the Government Bridge” by Peter Van Doren and Chris Edwards dated December 9, 2008 published by National Review Online at http://article.nationalreview.com/?q=NzNlODhhOTM5OTQ0OTNiNzNlZmJjNWFmZmMwZTczNzA= .

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All Aboard the Gravy Train” by Chris Edwards dated April 15, 2009 published by National Review Online at http://article.nationalreview.com/?q=ODZmNTg2ZWUyMTA1ZDU5N2MyYzhkNjFjZWMyZGI5NTc= .

Insurance Against Terrorism” by Eli Lehrer dated August 10, 2009 published by The Weekly Standard at http://www.weeklystandard.com/Content/Public/Articles/000/000/016/796qucel.asp .

Privatizing Fannie, Freddie Could ‘Mitigate’ Risks Caused by Government Intervention, Says GAO” by Matt Cover dated September 15, 2009 published by Cybercast News Service at http://www.cnsnews.com/news/article/54021 .

Will Obama’s High-Speed Rail Plan Become a Subsidy for Freight Railroads?” by Ronald D. Utt dated October 1, 2009 published by The Heritage Foundation at http://www.heritage.org/Research/SmartGrowth/wm2637.cfm .

Taxpayers Deserve an Annual Report to the Shareholders” by Carl Paulus dated February 5, 2010 published by American Thinker at http://www.americanthinker.com/2010/02/taxpayers_deserve_an_annual_re.html .

The Dead Shall Be Raised: The Future of Fannie and Freddie” by Peter J. Wallison dated February 12, 2010 published by American Enterprise Institute at http://www.aei.org/outlook/100938 .

Recovery via Spending Cuts, Low Taxes, and Cheaper Government” by Jeffrey L. Scribner dated February 23, 2010 published by American Thinker at http://www.americanthinker.com/2010/02/recovery_via_spending_cuts_low.html .

How to Cut the Budget” by Christopher Chantrill dated February 23, 2010 published by American Thinker at http://www.americanthinker.com/2010/02/how_to_cut_the_budget.html .

The Three Biggest Myths About Tax Cuts and the Budget Deficit” by Brian M. Riedl dated June 21, 2010 published by The Heritage Foundation at http://www.heritage.org/Research/Reports/2010/06/The-Three-Biggest-Myths-About-Tax-Cuts-and-the-Budget-Deficit .

Department of Commerce Proposed Spending Cuts” by Chris Edwards and Tad DeHaven dated May 2010 published by Downsizing Government at http://www.downsizinggovernment.org/commerce/proposed-cuts .

Department of Transportation Proposed Spending Cuts” by Chris Edwards dated June 2010 published by Downsizing Government at http://www.downsizinggovernment.org/transportation/spending-cuts .

Restoring the U.S. to a Free Economy” dated August 17, 2010 published by The Heritage Foundation at http://www.heritage.org/Research/Reports/2010/08/Restoring-the-US-to-a-Free-Economy .

Fourteen Ways to Reduce Government Spending” by Grover Norquist dated August 18, 2010 published by Americans for Tax Reform at http://www.atr.org/files/files/081810pr_14_Specific_Spending_Reduction_Ideas%281%29.pdf .

What Every American Needs to Know about Government-Entitlement Reform” by Andrew G. Biggs dated September 16, 2010 published by American Enterprise Institute at http://www.aei.org/outlook/100991 .

Postal Bankruptcy” by Doug Bandow dated October 5, 2010 published by The American Spectator at http://spectator.org/archives/2010/10/05/postal-bankruptcy .

A Plan to End Failed Federal Programs” by Darrell Issa dated October 13, 2010 published by Investor’s Business Daily at http://www.investors.com/NewsAndAnalysis/Article/550274/201010131830/A-Plan-To-End-Failed-Federal-Programs.htm .

Budget Outlays for 12 of 15 Cabinet Level Federal Departments Have Dramatically Expanded Since Dems Took Control of Congress” by Chris Johnson dated October 26, 2010 published by Cybercast News Service at http://www.cnsnews.com/news/article/budget-outlays-every-cabinet-department .

How to Cut $343 Billion from the Federal Budget” by Brian M. Riedl dated October 28, 2010 published by The Heritage Foundation at http://www.heritage.org/Research/Reports/2010/10/How-to-Cut-343-Billion-from-the-Federal-Budget .

Privatizing the U.S. Postal Service” by Tad DeHaven dated November 2010 published by CATO Institute at http://www.downsizinggovernment.org/usps .

CBO: Full Privatization of Fannie, Freddie May be Best Option” by Matt Cover dated January 11, 2011 published by Cybercast News Service at http://www.cnsnews.com/news/article/cbo-full-privatization-fannie-freddie-ma .

Uncle Sam’s Dangerous Deterioration” by Tom Blumer dated January 26, 2011 published by Pajamas Media at http://pajamasmedia.com/blog/uncle-sams-dangerous-deterioration/ .

“Sen. Paul Proposes Serious Cuts” by Chris Edwards dated January 31, 2011 published by Cato Institute at http://www.downsizinggovernment.org/sen-rand-paul-proposes-serious-cuts .

No Reservations: The Case for Dismantling the Indian Bureaucracy” by Carl Horowitz dated February 4, 2011 published by Town Hall at http://townhall.com/columnists/CarlHorowitz/2011/02/04/no_reservations__the_case_for_dismantling_the_indian_bureaucracy .

What We’re Talking About When We Talk About Big Government” by David Steinberg dated March 7, 2011 published by Pajamas Media at http://pajamasmedia.com/blog/what-we%E2%80%99re-talking-about-when-we-talk-about-big-government/ .

Taking the Government Out of Housing Finance: Principles for Reforming the Housing Finance Market” by Peter J. Wallison, Edward Pinto, and Alex J. Pollock dated March 24, 2011 published by American Enterprise Institute at http://www.aei.org/paper/100206 .

Budget Cuts look Familiar?” by Chris Edwards dated April 19, 2011 published by Cato Institute at http://www.downsizinggovernment.org/budget-cuts-look-familiar .

EDA and the Cookie Monsters” dated June 8, 2011 published by National Review Online at http://www.nationalreview.com/articles/269083/eda-and-cookie-monsters-editors .

Considering a Balanced Budget Amendment: Lessons from History” by Ernest J. Istook, Jr. dated July 14, 2011 published by The Heritage Foundation at http://www.heritage.org/Research/Reports/2011/07/Considering-a-Balanced-Budget-Amendment-Lessons-from-History .

Truthful Accounting Should Be the First objective of Any Debt Ceiling Compromise” by Sheila Weinberg and Ralf Seiffe dated July 28, 2011 published by American Thinker at http://www.americanthinker.com/2011/07/truthful_accounting_should_be_the_first_objective_of_any_debt_ceiling_compromise.html .

Time to End the U.S. Debt Accelerator Baseline Budgeting” by Terry Paulson dated May 7, 2012 published by Town Hall at http://townhall.com/columnists/terrypaulson/2012/05/07/time_to_end_the_us_debt_accelerator_baseline_budgeting .

CBO Report Echoes Trustees on Medicare, Social Security” by Romina Boccia dated June 14, 2012 published by The Heritage Foundation at http://www.heritage.org/research/reports/2012/06/cbo-long-term-budget-outlook-on-the-nations-fiscal-future .

Stop the Menendez-Boxer Sideshow: End Fannie Mae and Freddie Mac Now” by David C. John dated November 27, 2012 published by The Heritage Foundation at http://www.heritage.org/research/reports/2012/11/end-fannie-mae-and-freddie-mac-now-menendez-boxer-bill-not-the-solution .

A Housing Market Free of Fannie Mae and Freddie Mac: The Economic Effects of Eliminating Government-Sponsored Enterprises in Housing” by John L. Ligon and William W. Beach dated January 8, 2013 published by The Heritage Foundation at http://www.heritage.org/research/reports/2013/01/a-housing-market-free-of-fannie-mae-freddie-mac .

Get the Feds Out of Infrastructure” by Chris Edwards dated February 5, 2013 published by National Review Online at http://www.nationalreview.com/articles/339767/get-feds-out-infrastructure-chris-edwards .

How to Cut $30 Billion More from the THUD Bill” by Emily Goff dated July 1, 2013 published by The Heritage Foundation at http://www.heritage.org/research/reports/2013/07/how-to-cut-from-transportation-housing-and-urban-development-appropriations .

Congress Could Cut Five USDA Programs and Save $2.8 Billion a Year” by Daren Bakst and Romina Boccia dated July 2, 2013 published by The Heritage Foundation at http://www.heritage.org/research/reports/2013/07/congress-could-cut-five-usda-programs-and-save-28-billion-a-year .

Why Congress Needs a New Budget Process” by Patrick Louis Knudsen dated December 5, 2013 published by The Heritage Foundation at http://www.heritage.org/research/reports/2013/12/why-congress-needs-a-new-budget-process .

“The Best Way to Cut Spending: Cut Spending” by Matt Purple dated December 18, 2013 published by The American Spectator at http://spectator.org/articles/57165/best-way-cut-spending-cut-spending .

10 Programs to Eliminate in the January 2014 Spending Bill and Save $10.2 Billion” by Romina Boccia dated January 3, 2014 published by The Heritage Foundation at http://www.heritage.org/research/reports/2014/01/10-programs-to-eliminate-in-the-january-2014-spending-billand-save-102-billion .

GSE Reform: The Economic Effects of Eliminating a Government Guarantee in Housing Finance” by John L. Ligon and Norbert J. Michel dated February 7, 2014 published by The Heritage Foundation at http://www.heritage.org/research/reports/2014/02/gse-reform-the-economic-effects-of-eliminating-a-government-guarantee-in-housing-finance?utm_source=heritagefoundation&utm_medium=homepage&utm_campaign=headline140210 .

Red Tape Rising: Five Years of Regulatory Expansion” by James L. Gattuso and Diane Katz dated March 26, 2014 published by The Heritage Foundation at http://www.heritage.org/research/reports/2014/03/red-tape-rising-five-years-of-regulatory-expansion?utm_source .

 

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