Council Of The WholeMacKinnon Council Chambers
March 31, 2016
6 PM
Agenda

The preceding installments have shown that the
stated goals of the Tea Party - a reduction in the U.S. national debt and federal
budget deficit by reducing government spending and taxes – have essentially
been met.
The chart below (prepared by the Congressional
Budget Office) tells an important part of the story. Since 1965—the year
Medicare and Medicaid healthcare programs were signed into law—federal spending
has averaged 20.1 percent of America's total economic output. During the same
five-decade time frame, Uncle Sam's revenue has averaged 17.4 percent of GDP
per year. But across that span, Washington produced a balanced budget in only
five years. In 1969, a booming economy and LBJ's Vietnam surtax filled the
Treasury's coffers to 19 percent of GDP. Uncle Sam was also in the black from
fiscal years 1998 through 2001, as the Clinton expansion and the dotcom boom
(with its large capital gains paydays) brought in a tax revenue haul that
reached 20 percent in 2000.
Speaking in the March 13 issue of The Southbridge
News, Acting Superintendent of Schools Sheryl Stanton said, “We are not seeing
the increase to the overall school budget that we need to impact some of the
high priority issues. We need more people aware and educated of this. We need
to make an argument as to why these expenditures are required.”