The Politics of Noise

Walker, Lewis J.
April 1996
Journal of Financial Planning;Apr96, Vol. 9 Issue 2, p32
Academic Journal
This article focuses on the political hoopla about budgetary provisions regarding the financial management of the United States and the uncertainty which financial planners of the country have to deal with in respect of changes in Social Security, Medicare, and Medicaid programs. Past experience suggests that with any long-term budget plan, the economic and demographic assumptions underpinning revenue, expense, and deficit projections are likely to be wrong. Policymakers, whether in the White House or the Congressional Budget Office, are no better at predicting interest rates and the state of the economy in 2002 than are professional forecasters. Also, various proposals to balance the budget over the next seven years cannot lock down expenditures beyond 1996. Roughly one-third of the federal budget is discretionary spending subject to annual appropriations bills, which the president must sign or veto. Just seven items make up 75 percent of government activity--Social Security, Medicare, Medicaid, military arid civil service pensions, defense, and interest on the debt.


Related Articles

  • Talking Points.  // Journal of Financial Planning;Sep2002, Vol. 15 Issue 9, p22 

    Presents an update on issues related to the financial planning sector in the U.S. as of September 2002. Shift in the roles of financial planners; Emergence of the Shedders trend.

  • Budget agreement is costly and skewed. Jones, Arthur // National Catholic Reporter;07/18/97, Vol. 33 Issue 34, p3 

    Opinion. Comments on the 1998 budget reconciliation tax package in the United States. Budget deficits as high as $700 billion over the next 15 years; Tax credits and cuts; Backloading; People who stand to benefit from either the Congress or White House version of the package; Issues of...

  • U.S. Spends Too Much on Military. KAUL, DONALD // Progressive Populist;4/15/2011, Vol. 17 Issue 7, p23 

    The author proposes a three-pronged plan for balancing the U.S. budget which includes increasing taxes on the rich, cutting military spending and making more money by investing in research, schools, libraries and public broadcasting.

  • Managing Financial Transitions. Pullen, Courtney; Bradley, Susan // Journal of Financial Planning;Dec2009, Vol. 22 Issue 12, p35 

    The article discusses the effects of understanding the aspects of financial transitions towards financial planners in the U.S. It explores on the concepts of the seven-stage model of Financial Transition Planning and mentions on the significance of the planning model. It notes that with a...

  • Stay Competitive. Ellis, Rebecca // Advisor Today;Jan2006, Vol. 101 Issue 1, p54 

    The article presents information on the Financial Services Specialist (FSS) coursework. The FSS curriculum focuses on sales skills and technical knowledge specifically for financial-services professionals. The curriculum is timely, considering the current dynamics of the U.S. financial planning...

  • Protection First. Edwards, Jim // Advisor Today;Sep2007, Vol. 102 Issue 9, p16 

    The article provides information on financial planning in the U.S. According to the author, all financial planning is useless if there is no solid foundation in place. He added that financial planner of LUTCF and CLTC Patrick Shah has stated that financial planning is a two-part process. He...

  • Breaking with Tradition. Zultowski, Walter H. // Best's Review;May2008, Vol. 109 Issue 1, p66 

    The article reports on the issue that several high-net-worth niche markets are underserved by the financial planners in the U.S. The author stated that millions of wealthy niche households are begging for savvy financial advisers. He added that nontraditional and wealthy individuals often...

  • It's official: super choice is a fizzer for advisers. Fielding, Zoe // Money Management;10/20/2005, Vol. 19 Issue 39, p1 

    Reports on the results of a survey concerning financial planners who service corporate super funds in the U.S. Introduction of choice of fund; Percentage of advisers who had received queries about choice of fund; Statistics about the shift into an industry fund or a personal super fund.

  • Clueless in Withdrawal….  // Journal of Financial Planning;Aug2006, Vol. 19 Issue 8, p10 

    The article focuses on the amount of money that can be safely withdrawn from retirement fund on a yearly basis. The "Journal of Financial Planning" has recommended a withdrawal rate of about 4.5%, and the financial planning industry has adopted a standard of around 4%. A poll by New York Life is...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics