- published: 25 Sep 2015
- views: 469436
Fiscal conservatism is a political-economic philosophy regarding fiscal policy and fiscal responsibility advocating low taxes, reduced government spending and minimal government debt.Free trade, deregulation of the economy, lower taxes, and privatization are also often, but not always, associated with fiscal conservatism. Fiscal conservatism follows the same philosophical outlook of classical liberalism and economic liberalism regarding fiscal matters.
Fiscal conservatism is the economic philosophy of prudence in government spending and debt. Fiscal conservatives advocate the avoidance of deficit spending, the reduction of overall government spending and national debt, and ensuring balanced budgets. Fiscal conservatives would also support pay-as-you-go financial policies.
Edmund Burke, in his Reflections on the Revolution in France, argued that a government does not have the right to run up large debts and then throw the burden on the taxpayer:
[I]t is to the property of the citizen, and not to the demands of the creditor of the state, that the first and original faith of civil society is pledged. The claim of the citizen is prior in time, paramount in title, superior in equity. The fortunes of individuals, whether possessed by acquisition or by descent or in virtue of a participation in the goods of some community, were no part of the creditor's security, expressed or implied...[T]he public, whether represented by a monarch or by a senate, can pledge nothing but the public estate; and it can have no public estate except in what it derives from a just and proportioned imposition upon the citizens at large.
Ronald Ernest "Ron" Paul (born August 20, 1935) is an American politician, author, and physician, who is a former Republican congressman, two-time Republican presidential candidate, and the presidential nominee of the Libertarian Party in the 1988 U.S. presidential election.
Paul served as the U.S. Representative for Texas' 14th and 22nd congressional districts. He represented the 22nd congressional district from 1976 to 1977 and from 1979 to 1985, and then represented the 14th congressional district, which included Galveston, from 1997 to 2013. On three occasions, he sought the presidency of the United States: as the Libertarian Party nominee in 1988 and as a candidate in the Republican primaries of 2008 and 2012. Paul is a critic of the federal government's fiscal policies, especially the existence of the Federal Reserve and the tax policy, as well as the military–industrial complex, and the War on Drugs. Paul has also been a vocal critic of mass surveillance policies such as the USA PATRIOT Act and the NSA surveillance programs. Paul was the first chairman of the conservative PAC Citizens for a Sound Economy and has been characterized as the "intellectual godfather" of the Tea Party movement.
Randal Howard "Rand" Paul (born January 7, 1963) is an American politician and physician. Since 2011, Paul has served in the United States Senate as a member of the Republican Party representing Kentucky. He is the son of former U.S. Representative Ron Paul of Texas.
Born in Pittsburgh, Pennsylvania, Paul attended Baylor University and is a graduate of the Duke University School of Medicine. Paul began practicing ophthalmology in 1993 in Bowling Green, Kentucky, and established his own clinic in December 2007. Throughout Paul's life, he volunteered for his father's campaigns. In 2010, Paul entered politics by running for a seat in the United States Senate. Paul has described himself as a Constitutional conservative and a supporter of the Tea Party movement and has advocated for a balanced budget amendment, term limits, and privacy reform.
On April 7, 2015, Paul officially announced his candidacy for the Republican nomination at the 2016 U.S. presidential election. He suspended his campaign on February 3, 2016, shortly after the Iowa caucus.
James Warren "Jim" DeMint (born September 2, 1951) is an American politician who was a United States Senator from South Carolina from 2005 to 2013. He is a member of the Republican Party and a leading figure in the Tea Party movement. He previously served as the United States Representative for South Carolina's 4th congressional district from 1999 to 2005. DeMint resigned from the Senate on January 1, 2013, to become president of The Heritage Foundation, a conservative think tank.
DeMint was born in Greenville, South Carolina, one of four children. His parents, Betty W. (née Rawlings) and Thomas Eugene DeMint, divorced when he was five years old. Following the divorce, Betty DeMint operated a dance studio out of the family's home.
DeMint was educated at Christ Church Episcopal School and Wade Hampton High School in Greenville. DeMint played drums for a cover band called Salt & Pepper. He received a bachelor's degree in 1973 from the University of Tennessee, where he was a part of the Sigma Alpha Epsilon Fraternity, and received an MBA in 1981 from Clemson University. DeMint's wife, Debbie, is one of three children of the late Greenville advertising entrepreneur and South Carolina Republican figure James Marvin Henderson, Sr.