[0] TAXPAYER DOLLARS.Byline: Rep. James E. Rogan RECENT forecasts predict another record year for our economy, but potential fallout fallout, minute particles of radioactive material produced by nuclear explosions (see atomic bomb; hydrogen bomb; Chernobyl) or by discharge from nuclear-power or atomic installations and scattered throughout the earth's atmosphere by winds and convection currents. from market trouble in Asia could hurt our economy both on Wall Street and on Main Street. For the first time in nearly two decades, our budget deficit is not only manageable, but at historic lows. In fact, this year we will have a budget surplus - the first in nearly a generation. If this trend continues, we can expect low interest rates, continued growth, and broadened investment. While the deficit continues to shrink, our national debt looms ever larger. Currently, 37 percent of our debt is held by foreign parties, with Japan alone claiming nearly 10 percent. If troubles in world markets persist, subtle market changes worth just a few million dollars in Asia could mean losses into the billions at home, erasing any anticipated surplus. Unfortunately, as soon as the word ``surplus'' is spoken, some politicians want to go on a bureaucratic bu·reau·crat n. 1. An official of a bureaucracy. 2. An official who is rigidly devoted to the details of administrative procedure. bu spending spree Noun 1. spending spree - a brief period of extravagant spending spree, fling - a brief indulgence of your impulses . If this money is spent hastily hast·y adj. hast·i·er, hast·i·est 1. Characterized by speed; rapid. See Synonyms at fast1. 2. Done or made too quickly to be accurate or wise; rash: a hasty decision. , taxpayers will be left not only with the bill, but with the risk of rising interest rates, and eliminated chances for additional investment and tax relief. To reduce this unnecessary risk, I have co-sponsored several bills to manage our rising debt. These bills set aside any surplus revenue to pay down the debt, grant additional tax relief, and ensure the solvency of the Social Security and Medicare trust funds. Our current savings are not so great as to provide an infinite surplus for political opportunity. We must underscore The underscore character (_) is often used to make file, field and variable names more readable when blank spaces are not allowed. For example, NOVEL_1A.DOC, FIRST_NAME and Start_Routine. (character) underscore - _, ASCII 95. the need to rein in to check the speed of, or cause to stop, by drawing the reins. to cause (a person) to slow down or cease some activity; - to rein in is used commonly of superiors in a chain of command, ordering a subordinate to moderate or cease some activity deemed excessive. See also: Rein Rein spending, manage our books, and invest wisely so that our children will not spend their working lives paying the price for our fiscal foolishness. CAPTION(S): Photo Photo: no caption (James E. Rogan) |
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