John Neely Kennedy on Budget & Economy

2004 former Democratic Senate Challenger (LA)

As state treasurer, manages $5B bank account

John Neely Kennedy was elected to his third term as State Treasurer on September 6, 2007. Kennedy manages the state's $5 billion bank account including the investment of $3 billion in trust funds. He oversees all local and state bond issues, returns millions of dollars in unclaimed property each year, and takes care of state fiscal matters. He works diligently to guard taxpayers' money and rejects the status quo when it is not in the best interest of the state. Source: Campaign website, www.johnkennedy.com, "About" Mar 2, 2008

Reinstitute the "Pay As You Go" rule

Reinstitute the "Pay As You Go" rule, which Congress eliminated in 2001 and which would require a 60% vote in Congress to start a new program that would increase the deficit unless a specific revenue source or spending cut is identified.

Limit any increase in annual federal spending to inflation and population growth, excluding Social Security, Medicare, the war and homeland defense. Source: Campaign website, www.johnkennedy.com, "Issues" Oct 20, 2004

Constitutional amendment requiring a balanced budget

Pass a constitutional amendment requiring that the federal budget be balanced.
Eliminate all congressional pay raises until the budget deficit is reduced to zero.
Create a bipartisan commission with authority to eliminate pork barrel spending.
Begin a sunset review of every federal department, agency, program & service.

Source: Campaign website, www.johnkennedy.com, "Issues" Oct 20, 2004

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Page last updated: 3/31/2008