Two common definitions in the Random House Distonary are:
1) of or pertaining to the public treasuries or revenues
2) of or pertaining to revenues in general
Responsibility is defined as: a particular burden of obligation upon one who is responsible
A balanced budget is a budget in which income equals expenditures. In other words, if a country takes in X dollars in a year and spends exactly that amount, it has a balanced budget. The term 'balanced budget' usually applies to the U.S. federal government. For most of the past forty years, the United States has not maintained a balanced budget but rather ran a deficit. The exception to this occurred during the tail end of the dot-com boom during which the U.S.
Federal government not only maintained a balanced budget but ran a surplus. Classical economists tend to argue that a balanced budget should be the aim of the government. Keynesians* argue, however, that the government should forgo the goal of a balanced budget during difficult economic times and instead attempt to stimulate the economy through deficit spending.
The Ten Cannots
You cannot bring about prosperity by discouraging thrift.
You cannot help small men by tearing down big men.
You cannot strengthen the weak by weakening the strong.
You cannot lift the wage earner by pulling down the wage payer.
You cannot help the poor man by destroying the rich.
You cannot keep out of trouble by spending more than your income.
You cannot further the brotherhood of man by inciting class hatred.
You cannot establish security on borrowed money.
You cannot build character and courage by taking away men's initiative and independence.
You cannot help men permanently by doing for them what they could and should do for themselves.
Rev. William John Henry Boetcker, 1873
Top 10 STATES IN FISCAL PERIL* - #1- California, #2- Arizona, #3- Rhode Island, #4- Michigan, #5- Oregon, #6- Nevada, #7- Florida, #8- New Jersey, #9- Illinois and #10- WISCONSIN.
Just look around us, our national legislators have us trillions of dollars in debt! Our unborn children will be held more liable for this than most of us.
Our state, as they say, is $5.5 BILLION in the RED. According to the Wisconsin Taxpayer Alliance, they are closer to $10 Billion, as the state does not follow “GAAP”- Generally Accepted Accounting Principles”.
Thankfully, our local governments try and do a better job for us but they still must follow state and federal mandates which very seriously hinder them. Our local governments do not have to spend more on mandated programs than the limits set within them.
Our elected officials should be Good and Honest stewards of our tax dollars and our rights. The question we need to ask ourselves is, "ARE THEY?"
Elected officials work for US! We need to hold them accountable.
GOD BLESS AMERICA and AMERICA BLESS GOD