The Farmers Love This Bill

“The farmers love this bill, The farmers love this bill, High, HIGH, the dairies go, The farmers love this bill!” While it’s a tortured version of the original, the verse scribbled above represents a more fitting rendition of the classic nursery rhyme these days, given ongoing congressional action.  Today, the Senate will markup its version (S. [...]

“Don’t tax him. Don’t tax me. Tax that man behind the tree!”

All of Washington is waiting for President Obama to FINALLY release his budget, which was due the first week of February.  Of course, everyone is interested in different aspects of it.  I am particularly waiting to see what he proposes to do with Individual Retirement Accounts (IRAs). Supposedly, and we will know for sure tomorrow, [...]

Entitlements – Welfare and Unemployment

Entitlements – Welfare and Unemployment The United States has a significant, current and growing problem with entitlement spending, particularly the federal portion.  This commentary focuses only on welfare and unemployment.  I believe these issues should remain primarily local and community based with federal funding providing only a minimum and uniform security net. Definitions: Welfare and unemployment [...]

Provocative Social Security Reforms

Entitlements – Social Security: America has a significant, current and growing problem with both the absolute amount of entitlement spending, as well as the portion of total Federal governmental spending represented by this spending category. In this Commentary I will discuss only Social Security, and will take up the other “entitlements” separately. I chose Social [...]

The Right Stuff to Cut

Incoming Joint Economic Committee Chairman Kevin Brady’s (R-Texas) National Review Online op-ed, “What Kind of Cuts Grow the Economy,” makes it clear that the right kind of spending cuts will increase economic growth and create jobs.  The op-ed cites a report from Republicans on the Joint Economic Committee that showed how countries that reduce deficits through spending [...]

Heads in the Sand (or somewhere else)

Sen. Tom Harkin (D-Iowa) today became the latest in a growing list of Democrats who claim that the federal government does not have a spending problem.  It is not clear where their heads are located, but surely these members of Congress are either being deliberately obtuse or operating on a set of assumptions from some [...]

Eliminate the Food for Peace Program – Daily Waste

The Food for Peace program (FFP), also known as Public Law 480, was established in 1954. Since then, Food for Peace has sent tens of billions of dollars in food aid to dozens of countries across the globe. Its aim is to promote growth and prosperity in impoverished countries and to induce positive changes in [...]

Eliminate Community Development Block Grants(CDBGs) – Daily Waste

Today, the Daily Waste takes aim at Community Development Block Grants and how to save almost $20 billion through the program. In the 1970s, many American cities suffered from destitution and blight. For a variety of reasons, including rent control and inept local governance, America’s urban centers looked very different than they do today. During [...]

Raising the Medicare Eligibility Age Saves $125 Billion, Easy – Daily Waste

The Daily Waste will continue to delve into Medicare for savings and we’ve identified $18 billion more that can be salvaged in addition to the $24 billion we outlined in yesterdays post. The populations that receive Medicare and Social Security are identical; thus, it makes sense that the eligibility age for each should be raised [...]

The Daily Waste: Ripening the Retirement Age to Save Social Security

Today the Daily Waste will be examining Social Security and present an alternative to improve its efficiency.  Currently, retirees are eligible to begin receiving Social Security benefits at age 62 under “early” retirement, but these beneficiaries receive smaller payments over the rest of their lives.  The current Normal Retirement Age (NRA) is 65 for workers [...]