About Alan:

Alan received a Masters in Accounting from the University of Houston, became a CPA and a Fellow in HFMA. He had a lengthy career in Healthcare Finance serving in positions such as: VP of Finance of the Healthcare Div. of HAI, VP of Finance for Cardinal Glennon Children's Hospital and CFO of Adena Health System. He specialized in budgeting, strategic financial plan development, operational analysis and management reporting systems.

This would seem to be good training for his role of "watch dog" of the Federal Budget.

Tuesday, September 30, 2014

Three Important Facts for the 2014 Elections


The 2014 elections are nearly on us and three of the most important topics have hardly been covered. At least not in a way that voters can tell who to vote for.

Using the WH OMB Historical Table 1.1 we find we've only had five budget surpluses since 1965. Matching those results with who controlled the House when the budget was passed we find the last time Congressional Democrats were responsible for a surplus was 1969. Our National Debt was only $367 billion at the end of 1969! They've been responsible for 30 of the last 45 budgets, all finishing with deficits. And they continue to fight attempts to bring deficits under control while calling for more spending!

With our National Debt well on the way to $18 trillion, how do voters decide who to vote for? Looking at the how Senators have voted on a Balanced Budget Amendment would help. Senators had the opportunity to vote for one in the 112th session of Congress. Using the NJ Almanac of American Politics as my source, I found that every Democrat Senator voted against it and every Republican Senator voted for it. There just weren't enough Republicans or it would have already gone to the states for ratification.

Since at least 2005 the Social Security Trust Fund trustees have been warning us that Congress needs to act in a timely manner in passing reforms. Democrats stopped reforms from being enacted back in 2005 and again in 2011. Sen. Harry Reid is on record saying that he won't allow reforms to be considered until 2031, just two years before the trust funds run out of money. So as long as Democrats control the Senate and Sen. Reid is their leader, Social Security reforms won’t be passed.

So Democrats have a terrible record in regards to deficit spending, they rejected a Balanced Budget Amendment and they aren't willing to consider reforms to Social Security despite the fact they are desperately needed.
Knowing that makes your decision pretty easy to make, doesn't it?

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