Tim Penny

Our trillion-dollar problem deserves bipartisan attention
Our national debt is projected to grow faster than the economy — forever

Our nation is now staring at trillion-dollar annual deficits. The Congressional Budget Office in a report this month warned the nation once again that our yearly red ink could top $1 trillion as soon as next year. Our national debt is projected to grow faster than the economy — forever.

How many warnings will it take for our leaders to pay attention? What is the tipping point that will force our leaders to act?

Realistic Budget Rules Would Save Taxpayers Billions | Commentary

A failure to account properly can lead a business to fail. Our government’s failure to count properly is costing taxpayers billions. The federal budget is one area where our counting system has gotten way off track. There are simple policy solutions — such as replacing the dollar bill with the dollar coin — that could make government work better and more efficiently, but outdated one-size-fits-all rules are masking the true, long-term savings of the switch to the dollar coin.

On Social Security, Put All Ideas On the Table

Ever since President Bush put Social Security atop the national agenda, the issue has received a great deal of attention. Unfortunately, much of this debate has involved one side or the other trying to score partisan points, instead of seriously discussing the system’s challenges.

It is time to restore some common sense. First, we need to refocus on the target. The focus on 2042, the date the trust fund becomes insolvent, distracts attention from problems that will begin much earlier.