Where Does the Money Go?
Your Guided Tour to the Federal Budget Crisis
Chapter One
The Six Points You Need to Know to Understand the Federal Budget Crisis
Finance Minister:
"Here is the Treasury Department's report, sir. I hope you'll find it clear."
Groucho Marx:
"Clear? Huh. Why, a four-year-old child could understand this report . . . Run out and find me a four-year-old child—I can't make head or tail of it."
—Duck Soup, 1933
Open any newspaper, tune in to any newscast, and someone will be tossing around billion- and trillion-dollar estimates about government spending and squabbling about the nation's finances. It certainly sounds important, but they don't make it easy for people who aren't policy wonks to understand. The numbers are mind-boggling, and the jargon is even worse. Unfunded liabilities, revenue neutral tax reform, entitlement spending, discretionary domestic programs, baseline assumptions, percentage of GDP. Faced with phrases like these, most of us reach for the remote to see what's going o ... read full excerpt from Where Does the Money Go? ebook