http://www.washingtonwatch.com/blog/2010/11/16/national-commission-on-fiscal-responsibility-and-reform-fail/ News, Commentary, and What to Watch on WashingtonWatch.com Mon, 20 May 2013 14:02:17 +0000 hourly 1 http://wordpress.org/?v=3.1.1 http://www.washingtonwatch.com/blog/2010/11/16/national-commission-on-fiscal-responsibility-and-reform-fail/comment-page-1/#comment-9539 JonathanL Mon, 25 Jul 2011 13:39:35 +0000 http://www.washingtonwatch.com/blog/?p=6324#comment-9539 Government officials need some basic education regarding economic and fiscal responsibility, one which many and perhaps most elected officials probably lack. 1. For greatest economic stability, live within your means (i.e. don't spend more than your have). 2. If you do need to borrow money make sure it is for a project that will pay for itself (pay back the debt via tolls, or jobs that will be ultimately be self sustainable (income taxes come back to us). Note: otherwise if you are borrowing you are living above your means and will definitely have to eventually live below your means to to pay it off (foolish behavior). 3. Don't make promises (such as entitlements) you can't keep. These are obligations and most of us have paid quite dearly to fund our entitlements. If these entitlements are withdrawn then trust in our own government as an entity will be lost forever until it is replaced. I also have a question which begs the obvious: "Why have a debt ceiling if it is raised every time it threatens to actually be a ceiling?" (like having an imaginary friend). Let's grow up. (I have an MBA in finance and belong to the BETA GAMMA SIGMA business school honors society).It would be nice if our motto could actually be "In Gov We Trust" wouldn't it? Government officials need some basic education regarding economic and fiscal responsibility, one which many and perhaps most elected officials probably lack. 1. For greatest economic stability, live within your means (i.e. don’t spend more than your have). 2. If you do need to borrow money make sure it is for a project that will pay for itself (pay back the debt via tolls, or jobs that will be ultimately be self sustainable (income taxes come back to us). Note: otherwise if you are borrowing you are living above your means and will definitely have to eventually live below your means to to pay it off (foolish behavior). 3. Don’t make promises (such as entitlements) you can’t keep. These are obligations and most of us have paid quite dearly to fund our entitlements. If these entitlements are withdrawn then trust in our own government as an entity will be lost forever until it is replaced. I also have a question which begs the obvious: “Why have a debt ceiling if it is raised every time it threatens to actually be a ceiling?” (like having an imaginary friend). Let’s grow up. (I have an MBA in finance and belong to the BETA GAMMA SIGMA business school honors society).It would be nice if our motto could actually be “In Gov We Trust” wouldn’t it?

]]> http://www.washingtonwatch.com/blog/2010/11/16/national-commission-on-fiscal-responsibility-and-reform-fail/comment-page-1/#comment-7443 A Congressional Logjam – The WashingtonWatch.com Blog Mon, 22 Nov 2010 06:21:42 +0000 http://www.washingtonwatch.com/blog/?p=6324#comment-7443 [...] National Commission on Fiscal Responsibility and Reform FAIL [...] [...] National Commission on Fiscal Responsibility and Reform FAIL [...]

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