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Using Our Tax Dollars Wisely | |
Because of the global financial crisis, U.S. government spending is up sharply, and is likely to rise even more with the stimulus package intended to strengthen the U.S. economy. Indeed, the U.S. government is expected to spend at least $3.5 trillion in 2009. That is about one-quarter of the nation’s economy. But how do we know if it will be wisely spent?
Choice 1: Strengthen and Expand Systems to Encourage Responsible SpendingAccording to this point of view, since we can't always trust politicians to use good judgment, we should create rules and procedures that require them to act responsibly. In other words, the more leeway we give politicians and government bureaucrats, the more likely it is that they'll waste the nation's money. Choice 2: Make It Easier For Americans To See How Government Spends Its Money And What Programs WorkA better way to create more trust and accountability is to make sure politicians can’t hide what they’re doing, so that government watchdogs — like the news media, good-government organizations, and concerned citizens — can keep an eye on them and hold them accountable. Choice 3: Remove Temptation: Change The Incentives For How Our Leaders Spend Our MoneyAs things stand now, there are too many incentives to avoid making politically tough decisions or wasting the nation’s finances on pet projects. If we remove the most corrupting influences and incentives from the political system, and create new incentives for responsible behavior, we can expect politicians to exercise better judgment in how they manage the nation’s finances. Since many Americans do not trust most politicians to use good judgment, we should create rules and procedures that require them to act responsibly. |
Study Uncle Sam's Students Face Up to the Nation's Finances has a contest each semester, in which college students tell us – in writing, or in a multimedia format - what they think about the federal budget deficit and national debt and what should be done about it. There are four prizes of $500 each, with two winning entries chosen by our judges and two chosen by students voting on each other's entries, submitted to and posted on FacingUp.org. All videos and essays from the Spring 2009 contest can be viewed online, along with the winners' list. Next round of the competition will be in the fall. Questions? Write to support@facingup.org. 
Changing Expectations
»A new report finds the main problem in getting the public to deal with our fiscal problems isn't opposition to tax increases or spending cuts -- it's their lack of trust in the government to spend their money wisely.  |
