fiscal facts
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Fiscal Facts. “Everyone is entitled to his own opinion, but not his own facts.” - Former U.S. Senator Moynihan (D-NY). Comeback America Initiative. Our Mission - PowerPoint PPT PresentationTRANSCRIPT
Fiscal Facts“Everyone is entitled to his own opinion, but not his own facts.”
- Former U.S. Senator Moynihan (D-NY)
Comeback America Initiative
Our Mission
To promote fiscal responsibility and sustainability by engaging the public and assisting key policymakers on a
non-partisan basis in order to achieve solutions to America’s fiscal imbalances.
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No Labels
Our Mission
No Labels is a large and rapidly growing citizen-led organization mobilizing frustrated Republicans, Democrats and Independents – the majority of
Americans – into a new political force to break the paralysis of hyper-partisanship and dysfunction in
Washington. The goal is to make government work again by fighting for common sense solutions to our
nation’s biggest problems to our political system.
NOT LEFT. NOT RIGHT. FORWARD. 3
Four Common Myths
• To solve our nation’s fiscal problems...– We can GROW our way out– We can INFLATE our way out– We can TAX our way out– We can CUT our way out
• None of these methods work by themselves.• All of these methods must play a role in
restoring our fiscal sanity.
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U.S. Federal Spending
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Composition of Federal Spending
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Federal Spending / Political Party
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Federal Revenue / Political Party
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Spending Exceeds Revenues
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Federal Debt Burdens
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Historical Debt Burdens
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Federal Debt Per Capita / Party
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Projected Surplus?
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Federal Financial Hole
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2011 Fiscal Gap(after August debt ceiling increase)
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The U.S. as a Household
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Comparative Debt Burdens
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Fiscal Fitness Index (Overall)
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U.S. Changing Demographics
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Our Fiscal Future
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CBO’s Public Debt Projections
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Federal Healthcare Outlays
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Comparative Health Costs
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Relative Defense Spending
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Federal Revenue Composition
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Progressive Tax System
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Effective Tax Rates
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A Way Forward
Restoring Fiscal Sanity• Federal Reforms– Budget controls and process reforms– Social Security– Healthcare– Defense spending– Other spending– Comprehensive tax reform
For More Information visit: www.tcaii.com
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Fiscal Reform Feasibility Test
• Fiscal Reforms:– Do they make economic sense?– Are they socially equitable?– Are they culturally acceptable?– Do they pass a math test?– Are they politically feasible?– Can they achieve significant bipartisan support?
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Transforming Government
• Basic questions for policies and programs:– When and why was it created?– Have conditions changed and have we adapted?– How are we measuring success and are we
achieving desired outcomes?– Are there multiple programs and, if so, are they
working in an integrated manner?– Are we using the experience of others (e.g. other
countries, states) to replicate success and avoid mistakes?
– Can we afford and sustain it in its present form?30
What You Can Do!
• Educate others using Comeback America Initiative’s Fiscal Facts presentation and notes
• Research additional information– Non-partisan facts and possible solutions to fiscal
sustainability • Available at Comeback America Initiative’s website
www.tcaii.org
– Providing progress over partisanship• Available at No Labels’ website www.nolabels.org
• Encourage others to visit these sites and join these movements! 31
