Beware the 'Lockbox.'

This article focuses on the use of lockbox in the economic policy of the U.S. It is easy to see the political appeal of the lockbox concept. Lockbox is nothing more than an agreement to set aside certain funds for a specific purpose. If revenues are committed to a program, Democrats are happy because a tax cut is thereby made less likely. Democrats can increase spending only if they can finance it with funds other than those designated for the lockbox. Lockbox poses a serious threat to the free-market economy. The only way to avert the massive acquisition of equities by the U.S. government is for Republicans to shed their attachment to the lockbox and focus on tax reduction.