The collapse of the housing bubble has led to difficult times for
the U.S. economy. On February 17, 2009, less than a month into
his term, President Barack Obama signed into law the American Recovery
and Reinvestment Act, a $787 billion package to stimulate the
economy. However, the unemployment level has remained above
8-percent. National debt crossed the $15 trillion mark on
November 15, 2011; interest on the debt in FY 2011 was $454
billion. "Big government" was a dominant theme in the 2010
midterm elections. Heading into Fall 2012, a major concern is
sequestration, or automatic budget cuts that could be implemented as a
result of the Budget Control Act of 2011. Achieving fiscal
responsibility will require tough decisions.
The White House-Economy
"The Federal Reserve System is the central bank of the
United States. It was founded by Congress in 1913 to provide the nation
with a safer, more flexible, and more stable monetary and financial
system. Over the years, its role in banking and the economy has
(Other views: Audit the Fed | The Gold Standard Now)
Economic Briefing Room (U.S. Census Bureau)
see latest numbers column on the right
BUDGET, SPENDING, AND FISCAL RESPONSIBILITY
The White House-Fiscal Responsibility
The 2010 effort: National Commission on Fiscal Responsibility and Reform
The Campaign to Fix the Debt will serve as an
educational initiative, mobilizing key communities—including leaders
from business, government, and policy—and people all across America, to
build support for a comprehensive plan to fix our long-‐term debt and
deficits. (project of the Committee for a Responsible Federal
Budget, launched July 17, 2012).
"a bipartisan, non-profit organization committed to
educating the public about issues that have significant fiscal policy
impact. The Committee is a bipartisan group of leading budget experts
including many of the past Directors of the Budget Committees, the
Congressional Budget Office, the Office of Management and Budget and
the Federal Reserve Board. The Committee for a Responsible Federal
Budget is housed at the New America Foundation. New America is an
independent, non-partisan, non-profit public policy institute that
focuses on long-term issues facing the country."
US Budget Watch
"Our mission is to increase public awareness of the
nature and urgency of key fiscal challenges threatening America's
future and to accelerate action on them."
Comeback America Initiative | InDebtEd | Budgetball
"a nationwide, non-partisan, grassroots organization
advocating generationally responsible fiscal policy."
"an independent and non-partisan voice for taxpayers
working to increase transparency and expose and eliminate wasteful and
corrupt subsidies, earmarks, and corporate welfare."
"mission is to eliminate waste, mismanagement, and
inefficiency in the federal government. Founded in 1984 by the late
industrialist J. Peter Grace and syndicated columnist Jack Anderson,
CAGW is the legacy of the President's Private Sector Survey on Cost
Control, also known as the Grace Commission."
"a nonprofit, non-partisan citizen group whose members work every day for lower taxes and smaller government at all levels."
"a project of Public Notice, a nonpartisan nonprofit
organization 100 percent focused on arming people with the economic
facts and figures needed to evaluate the policies our leaders are
"a collaborative effort by over 150+ groups, and
growing, to pass a Balanced Budget Amendment to the United States
Constitution, specifically the Common Sense Balanced Budget Amendment.
We The People believe it is time to force the government to handle its
budget like our families have to, by balancing it."
"No American Debt is an organization that seeks to advance the national dialogue about America’s debt crisis. No American Debt will educate the general public about the severity of America’s $14 trillion debt and how this debt impacts everyday Americans." (launched by former Gov. George Pataki April 20, 211)
The White House-Taxes
"The mission of the Tax Foundation is to educate
taxpayers about sound tax policy and the size of the tax burden borne
by Americans at all levels of government." Founded in 1937.
"ITEP's mission is to ensure that elected officials,
the media, and the
general public have access to accurate, timely, and straightforward
information that allows them to understand the effects of current and
proposed tax policies."
"a 501 (c)(4) public interest research and advocacy organization focusing on federal, state and local tax policies and their impact upon our nation. CTJ's mission is to give ordinary people a greater voice in the development of tax laws."
advocates "a single-rate, federal retail sales tax collected only once, at the final point of purchase of new goods and services for personal consumption. Used items are not taxed. Business-to-business purchases for the production of goods and services are not taxed. A rebate makes the effective rate progressive."
"Americans for Tax Reform (ATR) opposes all tax increases as a matter of principle. We believe in a system in which taxes are simpler, flatter, more visible, and lower than they are today... ATR was founded in 1985 by Grover Norquist at the request of President Reagan. The flagship project of Americans for Tax Reform is the Taxpayer Protection Pledge, a written promise by legislators and candidates for office that commits them to oppose any effort to increase income taxes on individuals and businesses."
"EPI was established in 1986 to broaden the discussion about economic policy to include the interests of low- and middle-income workers."
"...working at the federal and state levels on fiscal
policy and public programs that affect low- and moderate-income
families and individuals."