Review by Michael Pellecchia
Ever wonder why government can't take such practical advice as dished out in The Tightwad Gazette? Here's a book that gives the historical perspective. Hamilton's Blessing, by columnist and commentator John Steele Gordon, tells of free-spending Congresses, tightwad Presidents, and names such as Nixon, Johnson, Washington, Jefferson.
There are precious few checks on congressional spending, writes the author. Among the most protected ones are the those that escape the long arm of annual appropriations, such as legislated Medicare, Medicaid, and Social Security entitlements, Aid to Dependent Children, and others. Washington wrestling with the budget deficit is like a drunk wrestling with alcoholism, writes Gordon.
And political action committees must be abolished, he says. "It is doubtful that any member of Congress has ever received a PAC contribution from an organization seeking to cut government spending," he writes.
Frugality is a people's practice. That was the logic used by Hamilton and Jefferson in giving Congress spending authority. It's worked out differently from that, and Gordon is an able historian of the process.
Michael Pellecchia writes about business and finance books each month He can be reached at michael_pellecchia@bookpage.com.
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