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24 Tax Foundation's Tax Review 1 (1963)

handle is hein.tera/tafoutaxt0026 and id is 1 raw text is: TAX FOUNDATION'S JANUARY 1963, Vol. XXIV, No. I The Crime of National Insolvency By the Hon. John L. McClellan U. S. Senator from Arkansas (Editor's Noie: The record Federal budget proposed for fiscal 1964 and the huge deficit accompanying it have focussed even greater atenltion on Federal fiscal policies. Some of the issues involved were treated by Senl. McClellan in the following article, based on a chapter of his book CRIME WrrtouT PUNISil- MENT, published last year.) T HERE are guidelines for us to follow in seeking to achieve our national purpose, the chief objectives and the supreme goals that we seek as a free people in these troubled decades of the twentieth century. They represent and express truly the highest ideals and aspirations of the American people. They are: nd Hckoround rnav dictate But there is no serious and....background.......may...dictate.....But...there......s-.no.-.se.rious,- The achievement of a just and lasting peace with honor and understanding among all nations and all peoples. The preservation of a society freedom and the dignity of man. The enhancement of our cultural and spiritual growth while we make continuous gains in all lields of knowl- edge and constructive en- deavor. The further expansion and strengthening of our econ- ony to provide greater op- portunities and security for all of our people. All good Americans will agree upon these basic objec- tives, adding corollaries per- haps, or emphasizing one above another as interests dedicated to the controversy about thcm. They were not argued as a major issue during the latest presidential campaign, nor are they likely to form the basis of disagreement in political issues and debatcs. There may be, of course, a great deal of dispute at times about the means and methods proposed to achieve these bless- ings. What to do, when to do it, and how it is to be In Brief done-these are the sharp Sen. McClellan in divisions among our people e greatest crimes in these difficult days. eration that todi ro1onm tIlosi In the pursuit of these nmient responsibiil- (IileresimI ishiw- great objectives, the Congress I mnerellessly hur- g ald earnings Or plays a vital role as the chief ht a tremerulouis, h )tre. ndus lawmaking branch of our bit.'' o crul inl sight to government aid it bears the are there enough responsibility for making the Who devote their lience to fighting right decisions on legislation )ending should h that will preserve our he- nsible government methods either to tage and move our country eet increased costs forward. This duty is increas- ingly clear as the world con- flict between the forces of *Used by perntission of the publisher. Duell, Sloan & Pearce. Copyright 1962 by John L. McClellan. Copyright 1963 by Tax Foundation, Inc., 50 Rockefeller Plaza, New York 20, N. Y. Material may be re-used with proper credit. I This Issue iI his opinion, Says this Rerietw. one of thII of all is that the geni (ointrols the nation's c with important gover ities re c.(allously an deingl the livelihlood future generations wit oppressive uintional (lei He notes there is in deficit spending nor men in public allirs time, energy, and hif against it. Deficit sp stopped, lhe says; respo cn Mil should fiuld hold the line or to i without aidding further land of debt.

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