Government
A Subject for the Next Debate? A New CBO Report on Social Security's Funding Gap
In calendar year 2010, for the first time since the enactment of the Social Security Amendments of 1983, spending for the program exceeded its dedicated tax revenues. In 2011, spending exceeded dedicated tax revenues by 4 percent, and that gap is growing. CBO projects that over the next decade, spending will exceed dedicated tax revenues, on average, by about 10 percent. more »
Dietary Supplements: Claims Fail To Meet Federal Requirements
Manufacturers must have competent and reliable scientific evidence to show that [Dietary Supplement} claims are truthful and not misleading, but they do not have to submit the substantiation to FDA, and FDA has only voluntary standards for it... a product label must include that the product is not intended to diagnose, treat, cure, or prevent any disease. more »
Sequestration: “A self-inflicted wound” to a struggling economy
Jake Grovum of Stateline writes: “Ham-handed cuts” nobody thought would actually happen. “The big, dumb spending cuts that no one wants,” - descriptions given to the looming federal budget reductions that are scheduled to take effect Jan. 2, 2013, unless Congress stops them. If they are enacted, more than $1.2 trillion would be cut from federal spending in the next ten years, including nearly $110 billion next year alone. more »
The Endeavour Day: FDR's Evolving Approach to Fiscal Policy in Times of Crisis
"We have come to a clear realization of the fact that true individual freedom cannot exist without economic security and independence. To many who have pleaded with me for an immediate balancing of the budget, by a sharp curtailment or even elimination of government functions, I have asked the question: 'What present expenditures would you reduce or eliminate?' And the invariable answer has been 'that is not my business -- I know nothing of the details, but I am sure that it could be done.' That is not what you or I would call helpful citizenship." more »
