Deficit hawk
Encyclopedia
Deficit hawk is an American political slang
term for people who place great emphasis on keeping the federal budget
under control. Deficit hawks believe the best way to reduce the deficit, pay off national debt, and balance the budget
is by a combination of increasing taxes and cutting government spending
. George Voinovich
of Ohio
was perhaps the most recent best-known deficit hawk in the United States Senate
, as were Warren Rudman
of New Hampshire
, Phil Gramm
of Texas
and Fritz Hollings of South Carolina
and Bob Dole
of Kansas during their years in the Senate. The Peterson Foundation
is a prominent advocate of this position. The Concord Coalition
is a bipartisan political advocacy group made up of deficit hawks and is perhaps the largest and most influential political advocacy group dedicated to promoting a balanced budget.
spending during the Great Depression
, in which the government ran up massive deficits but brought about America's postwar prosperity by taking greater control of the economy, focusing production on arms and suppressing consumption.
Slang
Slang is the use of informal words and expressions that are not considered standard in the speaker's language or dialect but are considered more acceptable when used socially. Slang is often to be found in areas of the lexicon that refer to things considered taboo...
term for people who place great emphasis on keeping the federal budget
United States federal budget
The Budget of the United States Government is the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1. Congressional decisions are governed by rules and legislation regarding the federal budget process...
under control. Deficit hawks believe the best way to reduce the deficit, pay off national debt, and balance the budget
Balanced budget
A balanced budget is when there is neither a budget deficit or a budget surplus – when revenues equal expenditure – particularly by a government. More generally, it refers to when there is no deficit, but possibly a surplus...
is by a combination of increasing taxes and cutting government spending
Government spending
Government spending includes all government consumption, investment but excludes transfer payments made by a state. Government acquisition of goods and services for current use to directly satisfy individual or collective needs of the members of the community is classed as government final...
. George Voinovich
George Voinovich
George Victor Voinovich is a former United States Senator from the state of Ohio, and a member of the Republican Party. Previously, he served as the 65th Governor of Ohio from 1991 to 1998, and as the 54th mayor of Cleveland from 1980 to 1989.-Personal life:Born in Cleveland, Ohio, his father was...
of Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
was perhaps the most recent best-known deficit hawk in the United States Senate
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...
, as were Warren Rudman
Warren Rudman
Warren Bruce Rudman is an American attorney and Republican politician who served as United States Senator from New Hampshire between 1980 and 1993...
of New Hampshire
New Hampshire
New Hampshire is a state in the New England region of the northeastern United States of America. The state was named after the southern English county of Hampshire. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Atlantic Ocean to the east, and the Canadian...
, Phil Gramm
Phil Gramm
William Philip "Phil" Gramm is an American economist and politician, who has served as a Democratic Congressman , a Republican Congressman and a Republican Senator from Texas...
of Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
and Fritz Hollings of South Carolina
South Carolina
South Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence...
and Bob Dole
Bob Dole
Robert Joseph "Bob" Dole is an American attorney and politician. Dole represented Kansas in the United States Senate from 1969 to 1996, was Gerald Ford's Vice Presidential running mate in the 1976 presidential election, and was Senate Majority Leader from 1985 to 1987 and in 1995 and 1996...
of Kansas during their years in the Senate. The Peterson Foundation
The Peter G. Peterson Foundation
The Peter G. Peterson Foundation is an American foundation established in 2008 by Peter G. Peterson, a co-founder of the Blackstone Group – an American-based financial-services company...
is a prominent advocate of this position. The Concord Coalition
Concord Coalition
The Concord Coalition is a political advocacy group in the United States, formed in 1992. A bipartisan organization, it was founded by former U.S. Senator Warren Rudman, former Secretary of Commerce Peter George Peterson, and the late U.S. Senator Paul Tsongas. The Concord Coalition's advocacy...
is a bipartisan political advocacy group made up of deficit hawks and is perhaps the largest and most influential political advocacy group dedicated to promoting a balanced budget.
Criticism
Some believe that deficit hawks use deficits as an excuse to oppose government spending. William Greider claims that "their real intent is to stymie the very spending programs that can deliver economic recovery and relief to battered citizens" . He points to the example of World War IIWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
spending during the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
, in which the government ran up massive deficits but brought about America's postwar prosperity by taking greater control of the economy, focusing production on arms and suppressing consumption.
See also
- Balance of paymentsBalance of paymentsBalance of payments accounts are an accounting record of all monetary transactions between a country and the rest of the world.These transactions include payments for the country's exports and imports of goods, services, financial capital, and financial transfers...
- Citizens Against Government WasteCitizens Against Government WasteCitizens Against Government Waste is a 501 non-profit organization in the United States. It functions as a think-tank, 'government watchdog', and advocacy group for fiscally conservative causes...
- ClintonomicsClintonomicsClintonomics refers to the economic policies of United States President Bill Clinton during the 1990s...
- Concord CoalitionConcord CoalitionThe Concord Coalition is a political advocacy group in the United States, formed in 1992. A bipartisan organization, it was founded by former U.S. Senator Warren Rudman, former Secretary of Commerce Peter George Peterson, and the late U.S. Senator Paul Tsongas. The Concord Coalition's advocacy...
- Fiscal conservatismFiscal conservatismFiscal conservatism is a political term used to describe a fiscal policy that advocates avoiding deficit spending. Fiscal conservatives often consider reduction of overall government spending and national debt as well as ensuring balanced budget of paramount importance...
- Fiscal policyFiscal policyIn economics and political science, fiscal policy is the use of government expenditure and revenue collection to influence the economy....
- Fiscal responsibilityBalanced budgetA balanced budget is when there is neither a budget deficit or a budget surplus – when revenues equal expenditure – particularly by a government. More generally, it refers to when there is no deficit, but possibly a surplus...
- PAYGOPAYGOPAYGO is the practice in the United States of financing expenditures with funds that are currently available rather than borrowed.-Budgeting:The PAYGO compels new spending or tax changes not to add to the federal deficit. Not to be confused with pay-as-you-go financing, which is when a government...
- United States federal budgetUnited States federal budgetThe Budget of the United States Government is the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1. Congressional decisions are governed by rules and legislation regarding the federal budget process...