I have seen many conversations in the past few years on U4prez that relate to fiscal policies and many different candidates definitions of them. Conservative policies, liberal policies, socialist policies, libertarian policies and so on. Each person has thier own, individual take on each philosophy and we have debate the in's and out's of each.
We have debated our own individual understandings of each economic philosophy and we have done it with the common understanding in the end that there are distinct differences in the various policies and philosophies that we all believe in and adhere to day in and day out. We didn't always agree and probably never will, but we debated our points and listened to the others, making various distinctions along the way that have shaped and molded our individual ways of thinking.
One phrase that always stood out, was always at the forefront of the debates and was the common denominator in all of the philosophies was 'Fiscal Responsibility'. Everyone claims to have it. Everyone claims to advocate it. But what does it mean? Is that phrase the one link between all the various economic and fiscal policies?
Some have debated that it is economic equality for all. Some have debated that it is a balanced budget. Some have debated it is spending on social program and the list goes on.
Through all of these different aspects and definitons of fiscal responsibility one thing has become clear. We all can agree that fiscal responsibility is important to all sides of the political spectrum.
I have written this blog not to try and define fiscal responsibility for all as that cannot be done given the vast array of political thought and beliefs that U4prez encompasses. I have written this blog to try and bring fiscal responsibility to the forefront once again. No matter what your econimic philosophy I want to know how we all define fiscal responsibility in the current economic situation we are in. Has our definition changed? Do we mold our definition to fit the times? These are the questions that I wish to seek answers to through this blog. What does fiscal responsibility mean to you?
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the problem more than anything is simple. consistancy in position. if you call yourself fiscally conservative and want to eliminate domestic spending you should not immeadiatly put up stop signs when it comes to reducing overseas spending( and not just foreign aid). after all, tax cuts are nice, and everyone is in favor of them, but if you don't reduce ALL spending, then they are for not. most here are bullshit artist that only blow smoke and call themselves fiscally conservative, as they call for greater spending programs.
Fiscal responsibility has been one of my favorite subjects. Let me add my two cents. When I get paid I put my money in my bank account, when the bills come in at the end of the month I do all I can to ensure that I have enough in the bank to pay said bills. If for some reason I do not have enough money to pay the bills I have to either cut out some of my expenditures or figure out a way to bring in more money. This is simple math folks. The federal government does not operate under these restraints, if they do not have enough to pay the bills they just fire up the press and devalue the dollar. When I talk about fiscal responsibility I am talking about the government getting control of spending instead of raping the tax payer. Give me a couple of hours with the budget and I bet I could save billions of tax payer dollars.
I just want to know from those who in the GOP call themselves fiscally responseable what they think of the GOP budget.
Fiscal responsibility is the realization that vve as citizens pay taxes and put into a pot. VVe elect representatives to see to it that those taxes are used for the betterment of society on the vvhole, vvhether it's putting more policemen on the streets, building better infrastructure, or salting some avvay for a rainy day. Every citizen has to hold up their end of this reponsibility, by voting for politicians seeking to put that tax money to the best use for all citizens, and for voting them out vvhen they fail. It is not a responsibility to take lightly, to sluff off onto those in VVashington and forget about until election time. Part of that responsibility is remember our representatives vvork for us, vve are not victims of their bad policies. VVe vvill alvvays quibble over the best vvays to spend these taxes, there's alvvays more than one formula. The question is not the size of government, it's a question of efficiency, and a government loaded vvith representatives vvho truly represent vvill find a vvay to solve problems facing a community, state, or nation. The best vvay to alleviate the tax burden on everyone is not to cater to a given agenda, but to maintain that agenda in as strict and efficient of means as possible. Both the Democrats and Republicans have failed miserably in this since the 1960's, largely because their ansvver to every problem vvas simply to throvv money at it. Fiscal responsibility means looking at a problem in terms of solving it long-term, perhaps even spending more novv so it's taken care of for generations dovvn the road. That's probably the biggest thing, because vve live in a spoiled-rotten generation, no one vvants to pay for living the lifestyle vve's lived over the last three decades, the burden is being put on future generations for the sake of lovv taxes today. That's not fiscal responsibility, that's passing the buck. Doing the right thing is not alvvays convenient. Fiscal responsibility means looking at ALL means to balancing a budget, including the raising of taxes. It is irresponsible to try to extend the gravy train vvhile debts rise and the economy continues to tank. The last thirty years of conservative policies have brought lovver taxes to the elite, but ballooning deficits and massive borrovving from countries vvho vvould love to see the US take a nosedive in status.
Which raises the question about the GOP budget that was put forth. who here supports it?
Their are a few good ones. But yes some do need to be voted out.
umm yea the current members of congress for the GOP need to go...
Rob I think you and I agree on spending. Which I would point you and I disagree with the National GOP's budget they presented to counter Obama's it was still way to much spending.
I believe the federal government should not spend past 30% of the GDP and send the rest to states. Social programs will be governed by the state and military and interstate issues should be the only things the fed should worry about. I would cut our corporate tax rate to 10% and our cap. gains taxes to 0%. I would remove the federal gas tax, death tax and other small taxes. This of course would be if the Fair Tax could not be passed.
In our democratic republic, defining fiscal responsibility is not an easy venture. I describe fiscal responsibility as wise spending on effective and necessary efforts that and do not exceed sustainable levels of government income. Of course, our government is funded by the efforts of our people, so the problem becomes that you could say our “sustainable levels of government income” are almost endless due to the fact that we can always raise the rate by which we tax Americans. That is why the term fiscal responsibility is not so easy to truly define. However, for the sake of government, I do believe that fiscal responsibility can be defined and achieved by government spending that is limited to its legitimate responsibilities and dedicated to only the most cost effective methods and instruments that permit government to live up to those responsibilities while insuring that the amount of government spending equals a sum less than the amount of incoming finances that the government is receiving during the course of any given fiscal year.
I think Congress should mandate that 15% of all revenues go towards paying off the debt. Thus they will be forced to make even harder decisions if they know up front they only get 85% to spend of the incoming revenue. Other wise they can keep the differance between spending and revenue so small that it would be a joke.
Cut the federal government by 60% and reduce taxes by 10% - the difference between revenues and expenses going towards debt reduction until such time as the debt is paid and then cutting taxes to the level needed solely to meet the reduced spending.
I agree mad. Each has it's philosophy and that is the point behind this blog. I want to know how each applies thier philosophy in the current economic situation. I am in agreement with your assessment 100% and am looking forward to input from the other sides.
It is a government that makes the tough choices and chooses to live with in the amount of money they take in each year no matter what. If you cut taxes then make the cuts in spending. If you want to go to war you either raise taxes or you cut spending. It is that simple.
A fiscally responsible government is one who doesn't spend more than they collect in revenue. A fiscal conservative believes in low taxes and minimal spending. A fiscal liberal believes in raising taxes to match spending.
*better
And I find it only fair that I be the first to answer my own question. In the current situation we are in I define fiscal responsibility as controlling our spending so we have a balanced budget and leave no debt for future generations to pay down. Let thier taxes be low and thier tax money go to bette the communities and country they live in. Not to pay down a debt run up by deficit spending and borrowing.
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