- published: 25 Sep 2015
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Fiscal 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. Free trade, deregulation of the economy, lower taxes, and other conservative policies are also often but not necessarily affiliated with fiscal conservatism.
The Democratic-Republican Party of Thomas Jefferson supported a weak central government and a more laissez-faire approach than that of the Federalist Party of Jefferson's rival Alexander Hamilton. They opposed Hamilton's plan to pay off the debts owed by the states for the expense of the American Revolution, because some of the debt was held by financiers and speculators (rather than the original holders) and because most of the debt was held by northern states. Hamilton passed his legislation and set up taxes to pay the debts. In exchange, he agreed to let Jefferson move the nation's capital to Washington, D.C.
Ronald Ernest "Ron" Paul (born August 20, 1935) is an American politician who has been the U.S. Representative for Texas's 14th congressional district, which includes Galveston, since 1997, and a three-time candidate for President of the United States, as a Libertarian in 1988 and as a Republican in 2008 and currently 2012. He is an outspoken critic of American foreign and monetary policies, including the Military–industrial complex and the Federal Reserve, and is known for his libertarian-leaning views, often differing from his own party on certain issues.
A native of Pittsburgh, Pennsylvania, Paul is a graduate of Gettysburg College and Duke University School of Medicine, where he earned his medical degree. He served as a medical officer in the United States Air Force from 1963 until 1968. He worked as an obstetrician-gynecologist from the 1960s to the 1980s, delivering more than 4,000 babies. He became the first Representative in history to serve concurrently with a child in the Senate when his son Rand Paul was elected to the United States Senate for Kentucky in 2010.
Randal Howard "Rand" Paul (born January 7, 1963) is the junior United States Senator for Kentucky. He is a member of the Republican Party. A member of the Tea Party movement, he describes himself as a "constitutional conservative" and a libertarian. He is the son of Republican Congressman and 2012 Republican presidential candidate Ron Paul of Texas and had never previously held political office. Paul first received national attention in 2008 when making political speeches on behalf of his father. Rand Paul is the first United States Senator in history to serve alongside a parent in the United States House of Representatives.
A graduate of the Duke University School of Medicine, Paul has been a practicing ophthalmologist in Bowling Green, Kentucky, since 1993, and established his own clinic in December 2007. In 1994, he founded Kentucky Taxpayers United, of which he is still the chairman.
In 2010, Paul ran as the Republican candidate for the United States Senate seat being vacated by retiring Senator Jim Bunning of Kentucky and defeated Kentucky Attorney General Jack Conway. As a supporter of the Tea Party movement, Paul has been vocal in advocating for term limits, a balanced budget amendment, and the Read the Bills Act, in addition to the widespread reduction of federal spending and taxation. He has gained prominence for his independent positions on many political issues, often clashing with both Republicans and Democrats.
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DeFazio speaks on the floor about fiscal conservatism. 02-24-2009
Fiscal conservatism in action!