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BG1076: How Congress Can Restore Local and Parental Control OverEducation

Public-private competition can lay the groundwork for changes inrevenue-estimating transparency practices, but Congress can set therules, and a Blue Ribbon Commission sponsored by a governmentagency, nonprofit group, or accounting or law firm might also beuseful. One thing is sure: Change in revenue-estimatingtransparency is needed at both the Treasury Department and theJoint Committee on Taxation.

Ratings firm Standard & Poor's downgraded the U.S.'s sterling credit rating on Friday for the first time in history, as it blasted the Washington political process and the inability of lawmakers to properly reduce national deficits.

The latest congressional leadership proposal for a "demonstrationproject" to test Medicare reform continues a tiresome pattern ofbad federal health policy that undercuts the effectiveness ofmarket-based health care reforms. Serious Medicare reform means onething: creating a premium support financing system modeled on theFederal Employees Health Benefits Program.

The supply-side framework outlined in this paper does not include all the effects of taxation that economists would like to examine. Depending on one's perspective, the glass could be considered half-full as well as half-empty. But if the only "dynamic" thing the Joint Committee on Taxation did was to incorporate the detrimental effects of federal deficits on capital formation, this would be more than worth the effort.