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Fiscal Facts

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

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Fiscal Facts

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  1. Fiscal Facts “Everyone is entitled to his own opinion, but not his own facts.” - Former U.S. Senator Moynihan (D-NY)

  2. 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.

  3. 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.

  4. 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.

  5. U.S. Federal Spending

  6. Composition of Federal Spending

  7. Federal Spending / Political Party

  8. Federal Revenue / Political Party

  9. Spending Exceeds Revenues

  10. Federal Debt Burdens

  11. Historical Debt Burdens

  12. Federal Debt Per Capita / Party

  13. Projected Surplus?

  14. Federal Financial Hole

  15. 2011 Fiscal Gap(after August debt ceiling increase)

  16. The U.S. as a Household

  17. Comparative Debt Burdens

  18. Fiscal Fitness Index (Overall)

  19. U.S. Changing Demographics

  20. Our Fiscal Future

  21. CBO’s Public Debt Projections

  22. Federal Healthcare Outlays

  23. Comparative Health Costs

  24. Relative Defense Spending

  25. Federal Revenue Composition

  26. Progressive Tax System

  27. Effective Tax Rates

  28. 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

  29. 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?

  30. 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?

  31. What You Can Do! • Educate others using ComebackAmericaInitiative’sFiscal Facts presentation and notes • Research additional information • Non-partisan facts and possible solutions to fiscal sustainability • Available at ComebackAmericaInitiative’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!

  32. www.tcaii.org www.nolabels.org

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