July 7, 2010 |
TRENTON - To impose a 2 percent cap on property-tax increases without addressing what drives up government spending is "the tail wagging the dog," Cherry Hill Mayor Bernie Platt told an Assembly panel on Wednesday. Collingswood Mayor Jim Maley concurred, warning lawmakers, "The order we're doing this in is not the best way. " The Assembly Budget Committee heard testimony from representatives of towns, schools, and public employees who repeatedly questioned the effectiveness of the 2 percent cap agreement reached Saturday by Gov. Christie and legislative leaders.
January 31, 2001 |
Let me say this first so there can be no misunderstanding: Alan Greenspan has been wrongly bashed by liberals for years when, in fact, the Fed chairman has used his impeccable anti-inflation credentials to preside over an extended economic experiment that has pushed unemployment down to 4 percent, far lower than what economists had previously thought possible without igniting a price spiral. Almost single-handedly, in other words, Greenspan's shrewd monetary management has drawn several million less-skilled workers into the labor force, thereby helping them more than any government program could have.
January 16, 1994 |
Want to send an anti-tax message to elected representatives from Main Street to Pennsylvania Avenue? Look no further than Malcolm X and Thomas P. "Tip" O'Neill. So says Sean Duffy, president of the Pennsylvania Leadership Council, a Harrisburg-based group promoting greater accountability in government. Unlikely bedfellows, yes, but the two men's approach to politics was remarkably similar, said Duffy, addressing a roomful of angry taxpayers yesterday at a regional spending cuts conference.
August 17, 1992 |
RIYADH MONEY TROUBLES PLAGUE SAUDIS Saudi Arabia, already paying out billions of dollars on foreign and domestic debt, may have problems meeting its obligations within a few years, due to the cost of the Gulf War, economists say. By the end of the year the oil-rich kingdom will have about $60 billion worth of outstanding debt, mainly in the form of treasury bills and bonds. It is expected to spend $5 billion to $8 billion this year alone on interest and principal. Economists say that will more than double by the mid-1990s if the Saudis do not curb government spending.
June 30, 2010 |
Republican congressional nominee Jon Runyan called for cuts in taxes and spending Tuesday, saying: "We have to put money back in the people's hands. " At an afternoon news conference, however, he could offer no details of the costs or consequences of his ideas. "I haven't run the whole gamut of the numbers," he said. "They're just commonsense ideas that I think will really affect people. " For individuals, Runyan would cut federal income taxes 15 percent, eliminate taxes on Social Security and unemployment checks, increase the child tax credit, cut capital gains and dividend taxes in half, ease restrictions on personal retirement plans, and repeal the inheritance tax and alternative minimum taxes.
October 26, 2001
Virtually everyone agrees something must be done to kick-start the economy. How we do this, though, is crucial. Do we respond to the terrorist attacks by building commuter rail systems? Or do we spend what we must to repair the damage, help the victims, strengthen counterterrorism and the military - and spend what we can on permanent, substantial tax cuts to stimulate the economy? You only need to know a little history to know that tax cuts - not more government spending - are the way to go. Yes, we need more spending - but by taxpayers, not by government.
February 4, 2003 |
The federal budget typically contains answers to a number of questions about government spending, economic assumptions and the federal deficit. President Bush's poses this question: "Where Are the Real Space Aliens?" The five-volume fiscal 2004 budget that Bush sent Congress yesterday is sprinkled with odd musings about government spending that go well beyond the usual facts and figures. The section on NASA does not reveal where the space aliens are, but it concludes: "Perhaps the notion that 'there's something out there' is closer to reality than we have imagined.
November 21, 1987 |
The automatic spending cuts triggered by President Reagan's activation of Gramm-Rudman yesterday could affect millions of Americans and many - but not all - aspects of federal government spending. Most notably, the automatic $23 million in spending cuts would not reduce Social Security benefits. Medicaid payments also are unchanged by the Gramm- Rudman-Hollings budget law. In fact, the $23 billion in purportedly across-the-board cuts are concentrated in about 21 percent of government spending with many programs for the poor and elderly specifically shielded from the law's harsh cutback provisions.
November 10, 2010
NEW JERSEY Gov. Chris Christie has been on a fast track to sainthood for his tough, take-no-prisoners stance on the New Jersey budget. He has not only been unafraid to call for tough budget cuts, but is rarely shy about expressing his opinion. For that, he and swooning Republicans have started to whisper the "P" word in connection with Christie's political future. His halo has slipped a little following a recent report from the Department of Justice's inspector general on the travel expenses of U.S. attorneys.
July 19, 2010
By Frank R. Gunter Has President Obama's economic stimulus actually led to a deeper recession and higher unemployment? In 1981, the United Kingdom was in a severe recession, and most economists supported a stimulus program of increased government spending and reduced taxes. They predicted this would stimulate private consumption and investment, shortening the recession. However, Prime Minister Margaret Thatcher's senior economic adviser, Alan Walters, advised her not to stimulate the economy in this manner, but rather to adopt a contractionary fiscal policy by raising taxes.