Blog

Archive for April 10th, 2009

Act forces Congress’ return to limited government

Friday, April 10th, 2009

As a reminder of the federal government’s limited powers, 20 representatives want to ensure that every single piece of legislation passing through Congress includes a statement citing specific constitutional authority for enacting it.

Sponsored by Rep. John Shadegg, R-Ariz., H.R. 450, or the Enumerated Powers Act, states, “Each Act of Congress shall contain a concise and definite statement of the constitutional authority relied upon for the enactment of each portion of that Act. The failure to comply with this section shall give rise to a point of order in either House of Congress. …”

When he introduced the proposal Jan. 9, Shadegg gave a House floor speech reminding his colleagues of limited authority granted in the 10th Amendment of the United States Constitution.

It states, “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”

Read the Full Article Here

Share/Save/Bookmark

Federal budget deficit swells more than expected

Friday, April 10th, 2009

The budget deficit surged as tax revenues declined due to surging unemployment and weak corporate profits, while government spending spiked. Here are some of the more relevant data:

In March, the deficit was 300% larger compared to the deficit in March 2008.

Corporate revenue (business tax receipts) was down 57% compared to March 2008.

Individual revenue (income tax receipts) was down 15% compared to March 2008.

The government spent 41% more compared to March 2008. Almost half of this new spending was dedicated to mortgage lenders, Fannie Mae and Freddie Mac.

Social Security spending rose 7%.

Medicare and Medicaid spending rose 14%.

Defense spending rose 8%.

While the Bush administration initiated the explosion of new spending late last year, the Obama administration is accelerating it to unprecedented levels.

Read the article here.

Share/Save/Bookmark

More states to raise income and sales taxes

Friday, April 10th, 2009

As the recession deepens, at least ten more states are considering increasing both sales and income taxes to cover huge budget shortfalls. Some fiscal analysts predict the list of states will significantly grow after April 15.

There are consequences to out of control government spending, and as usual, hard working taxpayers will have to pay the price.

Read the article here.

Share/Save/Bookmark