A Fox News report broadcast on November 28 supplies means of stanching the unprecedented effusion of budgetary red ink overseen by presidents George W. Bush and Barack Obama. In that report, talking-head Chris Wallace interviewed Jeffrey Post, curator of the gem and mineral collection at the Smithsonian Institution’s Museum of Natural History. The story...
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How about this as an amendment to the Constitution of the United States? Amendment 28: Section 1: The president shall determine the dollar amount of total federal outlays prior to the passage of the budget. Congress must allocate outlays to remain within this dollar limit. Section 2: The presidential budget cap can be exceeded...
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What is the right word to describe the U.S. government’s current and proposed fiscal condition: fantastic, unbelievable, surreal? The Obama administration now expects a budget deficit in fiscal year 2009 of $1,750 billion, or more than 12 percent of GDP. Total federal spending this year is expected to be $3,940 billion, or 27 percent of GDP. President Barack Obama promises that the...
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