America's Fiscal Constitution (78 page)

3
. In fiscal year 2011 the base defense budget, i.e., apart from the wars, was $546 billion, and an additional $124 billion was spent for the Veterans Administration, $46 billion for homeland security, and $12 billion for international military assistance.

4
. “Statutory Limits on Federal Debt: 1940–Current,” The White House,
www.whitehouse.gov/sites/default/files/omb/budget/. . ./hist07z3.xls
.

5
. See Appendix E.

6
. Hooper, “Pence Lobbies Leaders.”

7
.
H.J. Res 22: Proposing an Amendment to the Constitution of the United States to Require a Balanced Budget
, 104th Cong., January 4, 1995.
http://www.govtrack.us/congress/bills/104/hjres22/text
.

C
HAPTER
20

1
. National Priorities Project, “Cost of War.”

2
. CBO
, Long-Term Implications
.

3
. Alexander, “Budget Cuts.”

4
. In
Putting “Defense” Back into U.S. Defense Policy
, Eland notes that the United States would have to rely on regional alliances to fill a vacuum in military power.

5
. See Appendix H.

6
. Appendix C and OMB, Historical Tables, “Table 1.4—Receipts, Outlays, and Surpluses or Deficits by Fund Group: 1934–2018.”

7
. OMB, Historical Tables, “Table 2.3—Receipts by Source as Percentages of GDP: 1934–2018.”

8
. Kagan,
The World America Made
, 129.

C
HAPTER
21

1
. When Medicare was enacted, only a quarter of Americans over sixty-five had medical insurance. Premiums for Medicare Part B were set at levels designed to encourage widespread participation by even healthier older Americans, to assist in spreading risks.

2
.
Health, United States, 2012
, Tables 111 and 114,
http://www.cdc.gov/nchs/data/hus/hus12.pdf#111
.

3
. For Medicare, see
Medicare Trustees Report
, Table V.B1 at 191 and V.B5 at 199 ($594 billion times 43.1 percent federal funds revenues),
http://downloads.cms.gov/files/TR2013.pdf
and OMB, Historical Tables, “Table 10.1” ($16.2 trillion). For Medicaid ($265 billion), see CBO,
Medicaid Spending
.

4
. CMMS,
National Health Expenditure Projections
. By 2020, if expanded by the Affordable Care Act, Medicaid is expected to account for about a fifth of all federal medical spending.

5
. Rivlin and Antos,
Restoring Fiscal Sanity 2007
, 70.

6
. It would be a 50 percent reduction if Medicaid were included. See Meeker,
Basic Summary
, 274.

7
. An increase in the personal income tax rates to make up the balance would be equivalent to undoing all the tax reductions in 2001 and 2003 for Americans at all income levels.

8
.
2013 Annual Report, Federal Hospital Insurance
, Table V.D1 at 13,
www.socialsecurity.gov/oact/tr/2013/tr2013.pdf
.

9
. See, for example, polling on Medicare compiled at
http://www.pollingreport.com/health3.htm
.

10
. CBO,
Updated Budget Projections
.

11
. Ibid.

C
HAPTER
22

1
. To check on the most recent estimate, go to Table 1.4 at
http://www.whitehouse.gov/omb/budget/historicals
.

2
. See Appendix H.

3
. OMB, Historical Tables, “Table 2.3—Receipts by Source as Percentages of GDP: 1934–2018.”

4
. Derived from Appendix H.

5
. McBride, “Summary of Latest Federal Income Tax Data,” Tables 2, 5, and 6.

6
. Tax Policy Center, “Historical Average Federal Tax Rates.”

7
. Congressional Research Service,
The “Fiscal Cliff,”
7.

8
. OMB, Historical Tables, “Table 2.3—Receipts by Source as Percentages of GDP: 1934–2018.”

9
. Ibid.

10
. “FRED: Economic Data.”

11
. Tax Policy Center, “Historical Income Distribution.”

12
. 12 USC § 225a, November 16, 1977,
http://www.federalreserve.gov/aboutthefed/section2a.htm
.

C
HAPTER
23

1
. Perot,
United We Stand
, 8.

2
. Mendes, “Americans Fear Impact.”

3
. Newport, “In Their Own Words.”

4
. Obama, “Remarks by the President”

5
. “Democratic Party Platform of 1964.”

6
. Bentsen quoted in Stengel, “Ninety Long Minutes.”

7
. Roosevelt, “Radio Address.”

8
. “Complete Text of the Iowa Republican Debate.”

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