“Rich States, Poor States is a great resource for state leaders on the importance of enacting market-friendly policies. Many states are facing difficult economic times and ALEC effectively highlights how market-friendly policies increase state prosperity and competitiveness.” – State Treasurer Allison Ball, Kentucky, National Chairwoman, State Financial Officers Foundation
Issues
Did you know that in a recent poll, Treasurers were trusted more than 70% of the time on financial issues over their governor or member of congress?Debt & Deficits
“Why Should We Worry About the National Debt?” by the Committee for a Responsible Federal Budget.
Examining how growth in the national debt slows economic growth, increases interest rates, reduces fiscal flexibility, and burdens future generations.
http://www.crfb.org/sites/default/files/Why_Should_We_Worry_About_the_National_Debt.pdf
“Debt Is Growing Faster In The United States Than Anywhere Else In The World” by Peter G. Peterson Foundation.
According to the International Monetary Fund, over the next five years U.S. debt is expected to increase the most of any developed nation relative to the size of its economy.
“Federal Budget in Pictures” by the Heritage Foundation.
A regularly-updated website that provides analysis of fiscal policy trends in an accessible manner.
https://www.federalbudgetinpictures.com/
“2019 Long-Term Budget Outlook” by the Congressional Budget Office.
Projects fiscal trends for the next 30 years, along with alternate scenarios, to show the course the nation is headed absent reforms.
https://www.cbo.gov/publication/55331
“The Budget Is at a Crossroads. Which Path Will Congress Take?” by Justin Bogie of the Heritage Foundation.
Analysis of an August 2019 report from the Congressional Budget Office, which shows that the federal government will have annual deficits exceeding $1 trillion starting next year.
“State Bonded Obligations Report” By Thurston Powers of ALEC
Budget & Spending Background
“Appropriations 101,” by the Committee for a Responsible Federal Budget.
Explains the annual spending process in Congress, along with common pitfalls.
http://www.crfb.org/papers/appropriations-101
Rich States, Poor States, 11th Edition – by Jonathan Williams, Dr. Arthur B. Laffer & Stephen Moore
https://www.alec.org/publication/rich-states-poor-states-11th-edition/
Major Entitlement Programs
“How Does Social Security Work?” by the Peter G. Peterson Foundation.
“Medicare” by the Peter G. Peterson Foundation.
These two pages provide background information on the two largest and fastest-growing social programs, Social Security and Medicare.
https://www.pgpf.org/budget-basics/how-does-social-security-work
https://www.pgpf.org/budget-basics/medicare
“Analysis of the 2019 Social Security Trustees’ Report” by the Committee for a Responsible Federal Budget.
“Analysis of the 2019 Medicare Trustees’ Report” by the Committee for a Responsible Federal Budget.
Each year, the federal government releases reports on the financial state of the Social Security and Medicare programs. Analysis of the reports shows a steadily deterioration that threatens the nation’s fiscal health.
http://www.crfb.org/papers/analysis-2019-social-security-trustees-report
http://www.crfb.org/papers/analysis-2019-medicare-trustees-report
“Social Security and Health Care Entitlement Reform” by Rachel Greszler, Robert Moffit, and Nina Owcharenko Schaefer of the Heritage Foundation.
Details a variety of means by which these major programs can be brought into fiscal alignment, without harming vulnerable Americans who rely on them.
Fiscal Reforms
“Getting To Yes: A History Of Why Budget Negotiations Succeed, And Why They Fail” by Brian Riedl of the Manhattan Institute.
Brian examines a number of successful bipartisan deficit reduction negotiations, and outlines what makes deals more likely to be successful.
https://www.manhattan-institute.org/three-ingredients-successful-deficit-reduction-federal-budget
The Heritage Foundation’s annual Blueprint for Balance provides a comprehensive look at how to bring federal deficits and debt in line, while also enhancing the economy. These sections are especially noteworthy:
“Fiscal Restraint in the Budget Process” by Romina Boccia and Justin Bogie.
This report details many ways to reduce the deficit through changes to the annual congressional spending process.
https://www.heritage.org/blueprint-balance/policy-agenda/fiscal-restraint-the-budget-process
“Budget Proposals” by the Heritage Foundation.
A broad selection of ways to save taxpayer dollars through a mix of eliminating waste and reforming flawed programs.
https://www.heritage.org/blueprint-balance/budget-proposals
Keeping the Promise: Getting Politcs Out of Pensions by Jonathan Williams, Kati Siconolfi, Ted Lafferty & Elliot Young
https://www.alec.org/publication/keeping-the-promise-getting-politics-out-of-pensions/
Unaccountable and Unaffordable 2018 – by Jonathan Williams, Christine Smith, Thurston Powers & Bob Williams
https://www.alec.org/publication/unaccountable-and-unaffordable-2018/