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Keyword: budget

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  • GOTTA SEE: Paul Ryan defends budget plan

    04/04/2012 12:42:46 PM PDT · by Ooh-Ah · 3 replies
    Fox News ^ | April 4, 2012 | Paul Ryan
    Bret Baier has Paul Ryan respond to Obama criticisms of Ryan's budget. Paul Ryan defends budget plan
  • Geithner: Can't let deficit fears stop investments

    04/04/2012 8:10:34 AM PDT · by Oldeconomybuyer · 25 replies
    Reuters ^ | April 4, 2012 | By Karen Pierog
    Americans can't let fear of deficits stop necessary government spending, U.S. Treasury Secretary Timothy Geithner said on Wednesday as he laid out the administration's economic agenda ahead of November's presidential election campaign. He said the U.S. economy still was in the process of deleveraging, or paying down excessive debts from the 2007-2009 financial crisis, but it was growing moderately and needs a boost that only government can provide. "We have to be willing to do things, not just cut things," he said. Geithner said big U.S. budget deficits were not sustainable indefinitely but suggested they shouldn't be made the primary...
  • FReep this poll! Is Obama right re: Ryan budget, social darwinism?

    04/04/2012 7:19:42 AM PDT · by Choose Ye This Day · 38 replies
    Washington Post ^ | April 4, 2012 | Washington Post
    Do you support President Obama's declaration that Paul Ryan's budget is a "radical vision" of "social Darwinism"? Yes - 45% No - 55% Total Votes: 7,281 Percentages may not add up to 100% due to rounding
  • Mitt’s ‘marvelous’ misjudgment

    04/04/2012 6:55:06 AM PDT · by Cincinatus' Wife · 12 replies
    The Washington Post ^ | April 4, 2012 | Matt Miller
    Mitt Romney, you got some ‘splainin’ to do! That was the gist of President’s Obama’s broadside against Paul Ryan’s budget in a scorching address Tuesday in which the president dubbed the GOP plan the kind of “radical” “social Darwinism” that’s an affront to American values. He also noted conveniently for the assembled press that Mitt Romney has called Ryan’s plan “marvelous.” [SNIP] Can Romney extricate himself from being tied to Ryan as Dole was to Gingrich? This kind of Houdini-style escape may be beyond even the skills of as brazen a flip-flopper as Romney, though it will be fun to...
  • Maryland bills still to be settled: Budget, wind, casinos

    04/03/2012 9:35:28 PM PDT · by Tolerance Sucks Rocks · 2 replies
    The Washington Times ^ | April 2, 2012 | David Hill
    ANNAPOLIS — With just a week left in the 2012 General Assembly session, lawmakers have hundreds of bills left to consider. But only a handful of proposals will get most of their attention. The House and Senate still must approve a joint version of the state budget, which they are required to do before adjourning Monday. Legislators also will consider bills that would implement offshore-wind energy and set up a referendum on whether to allow table games and a new casino in Prince George’s County. A conference committee of House and Senate representatives got to work Monday on hashing out...
  • Paul Ryan to Obama: History will remember you as the guy who ducked the biggest challenge of our age

    04/03/2012 5:12:09 PM PDT · by SeekAndFind · 29 replies
    Hotair ^ | 04/03/2012 | AllahPundit
    If he's desperate enough to be babbling about “social Darwinism” in early April, what’s he going to say come October if he's two or three points down to Romney? Do we actually have to start a Godwin watch for this campaign?Remember, this is the guy who spent his last presidential run tut-tutting Republicans about the "politics of fear" while promising a hopeful new age of high unemployment and crushing deficits. Following another disappointing partisan speech by President Barack Obama, in which he tried to substitute tired political attacks for the principled leadership he refuses to offer, House Budget Committee Chairman...
  • Obama uses Gingrich to attack Ryan and Romney

    04/03/2012 10:40:50 AM PDT · by Cincinatus' Wife · 19 replies
    News OK ^ | April 3, 2012 | Joel Gehrke
    President Obama found Republican candidates to be useful props during his speech at the Associated Press luncheon today, while the audience proved a reassuring and laugh-happy crowd. "That renowned liberal Newt Gingrich, called the first version of that [Paul Ryan] budget 'radical,'" Obama sarcastically told the assembled reporters. "This is coming from Newti Gingrich!" Obama was referring to Gingrich's description of the Ryan budget as "right-wing social engineering." Obama moved from the Gingrich dig to mocking Romney for using the word "marvelous". "One of my potential opponents, Mitt Romney," Obama observed, "said that he's very supportive of this new budget....
  • House approves offshore wind bill 88-47, administration accused of coercion

    04/01/2012 1:07:14 AM PDT · by Tolerance Sucks Rocks · 14 replies
    The Maryland Reporter ^ | March 31, 2012 | Daniel Menefee
    The House passed the administration’s offshore wind power bill Friday amid accusations Gov. Martin O’Malley secured votes on the House Economic Matters Committee with disparity grants to committee members’ districts. “Those of you who have been here longer than two weeks know there’s a lot of complicated pressures that go into making a bill pass or fail,” said House Minority Leader Anthony O’Donnell. “Sometimes it takes a little nudge, sometimes it takes a carrot, and sometimes it takes a stick.” The disparity grant program in Maryland provides subsidies to jurisdictions with income tax receipts that fall below 75% of the...
  • Instead of 'stand your ground' how about 'Do Your Job'

    03/31/2012 5:55:43 AM PDT · by agee · 9 replies
    Founding Ideals ^ | 3/31/2012 | Aaron Gee
    It takes a special kind of hypocrisy to be a Democratic Senator these days. Out of one side of their mouth they claim that Paul Ryan’s budget is akin to throwing grandma off a cliff. The Democratic alternative to the Ryan budget – nothing. Ryan was succinct in his answer to this type of overwrought hyperbole from Democrats. Not doing anything effectively raids the Social Security fund, rations care, and bankrupts the program. The Democratically controlled Senate has gone more than 1,000 days without passing a budget and the American people are frustrated. The Democratically led government is spending over...
  • From the Harper Conservatives, a Budget That Dials Back the Role of Government

    03/30/2012 7:39:10 AM PDT · by docbnj · 1 replies
    Globe and Mail [view from the left] ^ | 29 Mar 2012 | Bill Curry & Jeremy Torobin
    With his first majority budget, Stephen Harper has laid bare his vision for the future Canada: Government will be smaller and less intrusive, individuals will take more responsibility for their own retirement and business will return to driving the economy. The 2012 budget is a showcase for Mr. Harper’s hands-off political approach, one that combines sweeping spending cuts to the public service with a handful of targeted policy changes geared to drive future investment. Ottawa plans to chop 19,200 public-service jobs, cut federal program spending by $5.2-billion a year and, in perhaps its most controversial move, extend the retirement age...
  • A Path to Security ['Ryan proposal is the only one pointed in right direction']

    03/30/2012 5:22:59 AM PDT · by rhema · 2 replies
    Weekly Standard ^ | 4/2/12 | Gary Schmitt and Thomas Donnelly
    Rep. Paul Ryan calls his budget plan the “Path to Prosperity,” but it could be termed as well a “Path to Security.” In reclaiming more than $200 billion of the nearly $500 billion in military cuts made in last year’s Budget Control Act (BCA), the House Budget Committee chairman takes national security more seriously than does our commander in chief. To be sure, these are only first steps toward undoing the damage of the Obama years. In 2009, President Obama’s first year in office—and while ramming an $800 billion “stimulus” bill through Congress—the White House directed $330 billion in defense...
  • From the Harper Conservatives, a budget that dials back the role of government

    03/30/2012 4:36:13 AM PDT · by Former Proud Canadian · 11 replies
    The Globe and Mail ^ | March 39, 2012 | bill curry AND jeremy torobin
    With his first majority budget, Stephen Harper has laid bare his vision for the future Canada: Government will be smaller and less intrusive, individuals will take more responsibility for their own retirement and business will return to driving the economy. The 2012 budget is a showcase for Mr. Harper’s hands-off political approach, one that combines sweeping spending cuts to the public service with a handful of targeted policy changes geared to drive future investment.
  • Does it matter that the Paul Ryan budget doesn’t balance?

    03/29/2012 2:50:34 PM PDT · by SeekAndFind · 10 replies
    Hotair ^ | 03/29/2012 | Tina Korbe
    As the House passes Paul Ryan’s latest budget, a minor controversy brews outside Congress about whether it matters that, according to the CBO, it doesn't balance.The controversy is occurring on the conservative side of the aisle --- but it's easy for liberals to exploit. Some lefties are already suggesting Ryan's budget is proof positive that we can't balance the budget without raising taxes, for example, and/or reviving the argument that, if deficit reduction really matters and Republicans refuse to raise taxes, then all spending cuts --- including cuts to defense, which the Ryan budget reverses --- should be on the...
  • Yesterday, Every Senate Democrat voted AGAINST Obama's Budget!!!

    03/29/2012 1:36:25 PM PDT · by Arcy · 18 replies
    3-29-12 | Arcy
    How embarrassing it must have been for Barak Obama to learn yesterday that his budget was voted down by every Democrat in the Senate. It was unanimous! Yes, everyone expect the Republicans to vote against it, but Democrats? They saw it as an utter failure also! Today, the Congressional House passed a budget, which will go on to the Senate to be voted on. If the Democrats don't vote for it, then it will be a public testimony of their desire to do absolutely nothing about the situation that our country is in. Let's hope the same miracle that occurred...
  • Paul Ryan's 'Groundhog Day'

    03/29/2012 7:34:35 AM PDT · by rhema · 2 replies
    St. Paul Pioneer Press ^ | 3/28/12 | John E. Sununu
    Like Bill Murray's character in "Groundhog Day," Rep. Paul Ryan appears condemned to repeat the same experiences over and over again. When Ryan, a Wisconsin Republican, unveiled his House budget proposal this month, you could almost hear strains of "I Got You Babe" - the song that awakens Murray day after day after day. And like the good people of Punxsutawney, Pa., the masses on Capitol Hill seem oblivious to his plight as he patiently treads the same ground one more time. Budget resolutions are required by law, though the Senate hasn't passed one in years. Big and unwieldy, they...
  • Consistency: Obama budget fails to get a single Democratic vote … again

    03/29/2012 6:48:21 AM PDT · by SeekAndFind
    Hotair ^ | 03/29/2012 | Ed Morrissey
    In early 2011, Barack Obama received a report from the Simpson-Bowles deficit commission he himself launched that outlined a series of significant cuts and new taxes that would have at least lowered the rate at which the country added to its debt. Obama ignored the report completely and instead proposed a budget with nearly $1.5 trillion in deficit spending, with no serious attempts to cut spending. It was so embarrassing that Republicans had to force the Democrat-controlled Senate in May 2011 to bring it up for a vote, where it failed unanimously, 0-97.The more things change … Before taking up...
  • Ryan's Budget Is Better Than You Know

    03/28/2012 3:33:06 AM PDT · by Cincinatus' Wife · 7 replies
    The American Spectator ^ | March 28, 2012 | Peter Ferrara
    Both the Left and the Right are grousing about House BudgetCommittee Chairman Paul Ryan's 2013 budget. Both are factually wrong. For conservatives, there are two amazing fundamentals in Ryan's budget. First is how quickly it gets spending, deficits, and debt under manageable control. Emphasis on the word manageable, not completely solved. Ryan's budget actually cuts the total level of federal spending in nominal dollars for each of the first two years......... [SNIP] Federal spending as a percent of GDP is reduced to 16 percent by 2050 under Ryan's budget, one fifth lower than the long-term, historical, postwar average. That is...
  • President’s Tax Plan Targets Rich

    03/25/2012 11:48:46 AM PDT · by John Semmens · 12 replies · 2+ views
    Semi-News/Semi-Satire ^ | 24 March 2012 | John Semmens
    Labeling Wisconsin Republican Representative Paul Ryan’s budget proposal “a disaster for the middle class,” President Obama offered a plan that “will make the rich pay their fair share.” “It’s time for those who have a job, a car, a roof over their heads, and food on the table to step up and bear a bigger share of the costs of providing for those who don’t,” the President told a crowd of supporters at a campaign speech in Washington. “Those who have more than they need to live have an obligation to care for their fellow human beings. My plan helps...
  • It's all party politics in Washington, D.C.

    03/25/2012 7:03:25 AM PDT · by SmithL · 5 replies
    San Francisco Chronicle ^ | 3/25/12 | Debra J. Saunders
    House Budget Committee Chairman Paul Ryan introduced a hard-core GOP budget last week. His committee passed the package in a 19-18 vote. Two Republicans voted against it. No Democrats voted for it. Partisanship lives. Last year, a Ryan budget passed the House in a 235-193 vote. No Democrats voted for the GOP plan. Only Republicans voted yes. Four GOP members voted no. Two Republicans and three Democrats didn't vote. When Senate Majority Leader Harry Reid brought the House package to the floor, five Senate Republicans voted no, and the measure failed 57-40. The Ryan budget, however, fared better last year...
  • Paul Ryan Releases Budget Proposal….Democrats Become Hysterical

    03/23/2012 4:25:24 PM PDT · by Starman417 · 6 replies · 1+ views
    Flopping Aces ^ | 03-23-12 | Curt
    So Paul Ryan releases his budget proposal and the Democrats get hysterical: 1. Our food won’t be the same: “The cuts to domestic spending, if applied across the board, would lead to fewer food inspectors, fewer air-traffic controllers, and so forth. That would mean more delays and cases of food poisoning, and so forth.” (Brad Plumer) 2. It’s savagery: “Over the medium term, of course, it’s a plan to savage the poor while giving big tax breaks to the rich.” (Paul Krugman) 3. Scrooge-esque: “Deficit reduction does not require the Scrooge-like, Gilded-Age policies that the Ryan plan embodies.” (Center for Responsible Budget...
  • The Passion of Paul Ryan (Media helps Democrats in slandering him and hastening fiscal meltdown)

    03/23/2012 1:10:35 PM PDT · by SeekAndFind · 1 replies
    Washington Free Beacon ^ | 03/23/2012 | BY: Matthew Continetti
    There is something morbidly appropriate in releasing the House GOP budget during Lent, when Christians around the world prepare to commemorate the most famous sacrifice in history.The budget’s author, Rep. Paul Ryan of Wisconsin, has drawn attention to America’s parlous fiscal position for years—and has received nothing but grief in return. Since 2009 he has been the one man in Washington to offer a serious, detailed, long-term, conservative, and politically feasible policy to avert the coming “credit event” in which interest rates spike, debt service becomes unbearable, and the federal government is forced into the sort of panicked, arbitrary, and...
  • TRUMP TO GOP: Stay Away From Paul Ryan's Budget ("Very dangerous for Republicans")

    03/23/2012 7:08:13 AM PDT · by SeekAndFind · 39 replies
    Business Insider ^ | 03/23/2012 | Grace Wyler
    As Washington gears up for a fight over House Budget Chair Paul Ryan's latest federal budget proposal, Donald Trump has some advice for Republicans: Stay away.  The real estate mogul/reality TV host/presidential hopeful tweeted this afternoon:  Twitter/@realDonaldTrump   Trump doesn't elaborate on his thinking. But as we pointed out earlier this week, Ryan's new budget plan is politically troublesome for the GOP heading into the 2012 election. Ryan's first stab at the budget was a disaster for the party last year, and Democrats are eagerly gearing up for Round II. 
  • Pity the Liberal Mugger

    03/23/2012 7:00:17 AM PDT · by Shery · 2 replies · 1+ views
    American Spectator ^ | 3/23/2012 | Ross Kaminsky
    The Paul Ryan/House Budget Committee "Path to Prosperity" FY 2013 Budget Resolution has inspired the usual wailing and gnashing of teeth among the leftist intelligentsia. Jonathan Cohn, writing in for The New Republic, says that the Ryan plan "would take health insurance away from tens of millions of people, while effectively eliminating the federal government except for entitlements and defense spending." In the Washington Post, Dana Milbank says that Ryan "slashes the safety net to pay for tax cuts mostly for wealthy Americans" and that "Ryan's justification was straight out of Dickens." The New York Times editorial page says that...
  • Bruce Bartlett: The Ryan Budget Plan: More Fantasy than Reality

    03/23/2012 5:22:56 AM PDT · by SeekAndFind · 23 replies
    The Fiscal Times ^ | 03/23/2012 | Bruce Bartlett
    On Tuesday, House Budget Committee Chairman Paul Ryan (R-WI) introduced a budget for fiscal year 2013. It proposes massive changes not merely in the path of federal spending, but the very nature of government and society. There is too much in it to analyze in one column, so I want to focus on one aspect: tax policy. The chapter on taxes in Ryan’s proposal is mostly a rather banal rehash of well-known problems with the tax code: it’s too long, too complex, etc. It then jumps to a two-page summary of his proposed reform: reduce the top individual income tax...
  • Obama's tax plan: Top 1% would pay $109,000 more on average

    03/22/2012 7:53:57 AM PDT · by Oldeconomybuyer · 18 replies
    Yahoo! Finance ^ | March 22, 2012 | By Jeanne Sahadi
    Wealthy taxpayers would see a big jump in their tax bills under President Obama's latest budget proposal, according to a new independent analysis. In fact, those in the top 1% of income would see an average tax increase of nearly $109,000 in 2015, according to the Tax Policy Center. Nearly 63% of tax filers with incomes between $100,000 and $200,000 would see a larger tax burden. Overall, an estimated 16% of households would end up with lower tax bills under Obama's proposal, which was laid out last month in the president's 2013 budget.
  • House Budget Committee Votes To Advance FY2013 Path to Prosperity

    03/21/2012 6:34:49 PM PDT · by Hunton Peck · 1 replies
    Committee on the Budget: U.S. House of Representatives ^ | March 21, 2012 | Paul Ryan, Chairman
    WASHINGTON – Moments ago, the House Budget Committee advanced a Fiscal Year (FY) 2013 budget resolution that cuts government spending, repairs the safety net, and lifts the crushing burden of debt. The FY2013 budget resolution is expected to be considered on the House floor next week. Following passage of the resolution, House Budget Committee Chairman Paul Ryan issued the following statement: “Elected representatives have a solemn obligation to help ensure that our children have more opportunity and inherit a stronger America than our parents gave us. The Democrat-controlled Senate has failed to pass a budget in over 1,000 days, while...
  • Santorum: The Paul Ryan budget is “a great blueprint,” but it doesn’t cut enough

    03/21/2012 3:36:32 PM PDT · by SeekAndFind · 22 replies
    Hotair ^ | 03/21/2012 | Tina Korbe
    Rick Santorum today gently criticized House Budget Chairman Paul Ryan's latest budget effort --- but at least it was from the right rather than the left as was Newt Gingrich's "right-wing social engineering" criticism last year: “He’s put forward a great blueprint for people to campaign upon and shows clearly progress dramatic progress in the direction of shrinking the size of government, and liberating the economy through lower taxes and less regulations,” he told Beck.But of entitlement reform, Santorum said, “we need to move forward quicker” and he called for faster spending cuts.Santorum was the only one of the presidential...
  • Club for Growth rejects Rep. Ryan’s budget

    03/21/2012 3:02:02 PM PDT · by afraidfortherepublic · 15 replies
    The Hill ^ | 3-21-12 | Erik Wasson
    The conservative Club for Growth on Wednesday came out against the new House Republican budget proposal authored by Budget Committee Chairman Paul Ryan (Wis.). The Club faulted the Ryan plan for not balancing the budget quickly enough and for turning off the automatic spending cuts triggered by the failure of last year’s supercommittee. Ryan and House GOP leaders are facing continued unrest among Tea Party-backed conservatives in the House over the details of the Ryan plan, which does not balance the budget until 2040. The Club for Growth statement could embolden a floor rebellion against the 2013 budget. “Despite containing...
  • Paul Ryan says he has votes to pass his budget in the House

    03/21/2012 6:38:36 AM PDT · by SeekAndFind · 4 replies
    American Thinker ^ | 03/21/2012 | Rick Moran
    It won't get anywhere in the senate, but Rep. Paul Ryan's bold budget proposal that cuts more than $5 trillion over the next decade while restructuring Medicare says he has the votes to pass his plan in the House. The Hill: __________________________________ House Republican leaders voiced confidence Tuesday that they will pass their budget despite unified Democratic opposition and grumbling from GOP conservatives that its proposed spending cuts are too small. "We have the votes," the budget architect, Rep. Paul Ryan (R-Wis.), told reporters on the day he unveiled a plan to overhaul the tax code and cut $5.3 trillion...
  • Paul Ryan Leads (How his budget brings America's debt under control)

    03/21/2012 6:28:29 AM PDT · by SeekAndFind · 11 replies
    National Review ^ | 03/21/2012 | The Editors
    Representative Paul Ryan, chairman of the House Budget Committee, has produced another bold budget. He knows that President Obama and the Democrats will not allow his budget plan to become law this year, but he wants to recommit the Republican party to spending restraint, tax reform, and a strong defense. Naturally, the Obama White House is already shrieking. Ryan’s budget, it says, “fails the test of fairness, balance, and shared responsibility.” The test of balance? Ryan’s plan moves the federal budget into sustainable balance, even on the unfavorable assumptions of the Congressional Budget Office. President Obama has never produced a...
  • Time for Another Paul Ryan Presidential Campaign Ad

    03/20/2012 7:50:17 AM PDT · by Shery · 7 replies
    HotAir.com ^ | 3/19/2012 | Allahpundit
    Not as dramatic as his first presidential ad, but that one was designed to set the mood. This is where he starts putting policy meat on the bone. Next, I assume, will come the foreign policy ad and then the “values” ad, and then boom — he wins the Wisconsin primary as a write-in on April 3 and suddenly the convention is pandemonium. Seriously, this is the teaser for tomorrow’s big House GOP budget rollout. The headline is already written: Ryan wants just two income tax rates instead of six, the top one of which would be 25 percent —...
  • The GOP Budget and America's Future

    03/19/2012 11:11:49 PM PDT · by trappedincanuckistan · 38 replies
    WSJ ^ | March 19, 2012 | Paul Ryan
    Less than a year ago, the House of Representatives passed a budget that took on our generation's greatest domestic challenge: reforming and modernizing government to prevent an explosion of debt from crippling our nation and robbing our children of their future. Absent reform, government programs designed in the middle of the 20th century cannot fulfill their promises in the 21st century. It is a mathematical and demographic impossibility. And we said so. We assumed there would be some who would distort for political gain our efforts to preserve programs like Medicare. Having been featured in an attack ad literally throwing...
  • House GOP Budget to Target Tax Rates [two individual brackets of 10% and 25%.........]

    03/19/2012 4:36:10 PM PDT · by Sub-Driver · 19 replies
    House GOP Budget to Target Tax Rates By NAFTALI BENDAVID House Republicans, seizing on what they hope is a potent campaign issue in the midst of a muddled political and economic landscape, will introduce a 2013 budget Tuesday that cuts tax rates and provides for two individual brackets of 10% and 25%. The budget would end the Alternative Minimum Tax, which was originally aimed at the wealthy but which ensnares a growing number of middle-class taxpayers each year. The plan would nearly eliminate U.S. taxes on American corporations' earnings from overseas operations. The proposal, to be offered by Rep. Paul...
  • Sessions says Reid dodging budget debate to avoid tough votes

    03/19/2012 2:43:18 AM PDT · by Libloather · 12 replies · 1+ views
    The Hill ^ | 3/18/12 | Pete Kasperowicz
    Sessions says Reid dodging budget debate to avoid tough votesBy Pete Kasperowicz - 03/18/12 01:54 PM ET Senate Budget Committee Ranking Member Jeff Sessions (R-Ala.) on Sunday afternoon accused Majority Leader Harry Reid (D-Nev.) of avoiding debate on a Senate budget resolution in order to protect Democrats from making tough choices on how to trim spending at a time of fiscal crisis. "When Senator Reid said it's foolish to bring up a budget, what he really is doing is avoiding having his members have to confront — and in public, not in secret meetings, but in public, with votes —...
  • CBO: Obama's budget adds $6.4 trillion to deficits

    03/16/2012 9:57:22 AM PDT · by SeekAndFind
    Daily Caller ^ | 03/16/2012 | Philip Klein
    President Obama's proposed budget would add $6.4 trillion to the nation's deficits over the next decade, according to a new analysis by the Congressional Budget Office.By 2022, this would bring debt held by the public to $18.8 trillion, or 76.3 percent of the gross domestic product, according to the analysis.Compared with the CBO baseline, Obama's budget would add $3.5 trillion to deficits from 2013 through 2022, both because he would extend many of the Bush tax cuts and increase spending. Overall, spending would be about $1.1 trillion higher than the CBO baseline and revenues would be $2.4 trillion more.On...
  • CBO: Obama budget adds $3.5 trillion in deficits through 2022

    03/16/2012 8:33:10 AM PDT · by maggief · 10 replies
    The Hill ^ | March 16, 2012 | Erik Wasson
    President Obama’s 2013 budget would add $3.5 trillion to annual deficits through 2022, according to a new estimate from the Congressional Budget Office (CBO). It also would raise the deficit next year by $365 billion, according to the nonpartisan office. The CBO estimate is in sharp contrast to White House claims last month that the Obama budget would reduce deficits by $3.2 trillion over the next decade.
 The differences between the estimates from CBO and the White House budget office are attributable to different baselines and economic assumptions, and a big reason CBO expects the deficit to spike sharply under...
  • Being Honest About Your Budget

    03/14/2012 8:17:09 PM PDT · by Altariel · 4 replies · 1+ views
    Debt Crushing Dad ^ | March 14, 2012 | Shane
    Budgeting is not easy. Despite how simple it sounds, it’s not always easy to create a budget that can account for everything and still be easy to stick to. One of the biggest mistakes we made early on was not being honest with ourselves. We would budget too small of an amount for some things and completely ignore others. This led to a lot of frustration because we would never have the money left at the end of the month to put towards debt that we expected. The problem was that we wanted to see as big of a number...
  • Tea Party senators unveil five-year plan to balance the budget (“A Platform to Revitalize America”)

    03/08/2012 4:21:34 PM PST · by Libloather · 10 replies
    The Hill ^ | 3/08/12 | Alexander Bolton
    Tea Party senators unveil five-year plan to balance the budgetBy Alexander Bolton - 03/08/12 02:16 PM ET Members of the Senate Tea Party Caucus on Thursday announed a plan to balance the budget in five years, cutting spending by nearly $11 trillion compared to President Obama’s budget. The plan, dubbed “A Platform to Revitalize America,” is a wish list of conservative policies, none of which have any chance of passing the Democratic-controlled Senate or being signed into law by a liberal Democratic president. The ambitious blueprint would achieve a $111 billion surplus in fiscal year 2017. “The whole point here...
  • Maryland’s ‘doomsday’ budget used as club

    03/07/2012 8:13:12 PM PST · by Tolerance Sucks Rocks · 7 replies
    The Washington Times ^ | March 6, 2012 | David Hill
    ANNAPOLIS — State budget analysts Tuesday suggested nearly $800 million in potential cuts as part of a “doomsday” budget that Senate leaders have vowed to consider if lawmakers cannot agree on a mix of cuts and revenue increases in this year’s spending plan. The analysts briefed the Senate Budget and Taxation Committee on the reductions, which include cuts to education and health services, elimination of 500 state jobs and more than $300 million in cuts of local aid to counties. Senate President Thomas V. Mike Miller Jr. said lawmakers are determined to make more aggressive cuts than those in Gov....
  • Growth and Prosperity Rather Than Austerity

    03/05/2012 4:22:36 PM PST · by Marguerite · 6 replies
    newt.org ^ | March 5, 2012 | Newt Gingrich
    The best and most effective way to balance the budget is through booming economic growth and prosperity. I know. That is how we did it the last time we balanced the budget, when I was Speaker of the House, and it stayed balanced for four straight years. We produced, in fact, four straight record budget surpluses, totaling $560 billion over those 4 years. You can check the historical record yourself at omb.gov. We achieved that not by raising taxes in return for supposed spending cuts, but by cutting tax rates to create booming growth, and cutting spending. The growth then...
  • Republican Efforts to Hold the Line on Bureaucrats’ Pay Assailed

    03/05/2012 1:41:37 PM PST · by John Semmens · 7 replies
    Semi-News/Semi-Satire ^ | 3 March 2012 | John Semmens
    Key Democrats objected to GOP efforts to trim the budget deficit by requiring federal employees to make bigger contributions to their own pensions. This comes despite statistics indicating that government employees’ pensions are far more generous than those of their peers in the private sector. “What my GOP colleagues consistently overlook is the complexity and importance of government work compared to the private sector,” complained Minority Whip, Representative Steny Hoyer (D-Md). “Producing food, clothing, and shelter are the relatively simple tasks we entrust to the private sector. Regulating these tasks is more complicated, difficult, and important. Those charged with these...
  • The Dagger at Defense

    03/05/2012 12:01:26 AM PST · by Innovative · 1 replies
    Real Clear Politics ^ | March 5, 2012 | Robert Samuelson
    It turns out that "budget sequestration," portrayed as an evenhanded way to spur bipartisan negotiations over budget deficits, is actually a dagger aimed at defense spending. So: the sequestration now scheduled for next January means about another $500 billion in military cuts over the decade. These are in addition to the $487 billion in defense reductions already in the BCA and billions of earlier cuts ordered by former Defense Secretary Robert Gates, who ended some major programs including the F-22 stealth fighter. Nor do these cuts count the automatic reductions occurring from withdrawals from Iraq and Afghanistan. Even without sequester,...
  • Rising gas prices start to sink O’Malley’s tax hike

    03/02/2012 4:38:39 AM PST · by Tolerance Sucks Rocks · 29 replies · 225+ views
    The Washington Times ^ | March 1, 2012 | David Hill
    ANNAPOLIS —Gov. Martin O'Malley’s proposal to increase the state’s gasoline tax is looking more and more far-fetched because of rising gas prices and persistent public outcry, say state lawmakers from both parties. The Democratic governor’s bill to phase in a 6 percent sales tax on gas has been met with skepticism from Republicans and moderate Democrats in the General Assembly. Now with gas prices climbing toward $4 a gallon and lawmakers focused on fine-tuning a state budget that could include several other tax increases, some legislators say they are running low on time and political will to tack on a...
  • The Loud and Clear Message In President Obama's Budget (America needs a new President)

    02/25/2012 6:59:50 PM PST · by SeekAndFind · 2 replies
    Forbes ^ | 02/25/2012 | Peter Ferrara
    Last week, I discussed the central economic policy of President Obama’s budget and accompanying Presidential budget message. What drives economic recovery and growth according to the President and his budget is federal spending, deficits and debt, the fundamental tenets of the Keynesian economics that arose in the 1930s. If you agree with that, then President Obama is your man for reelection in 2012. If you think that’s nuts, however, then the message of the budget to you is that America needs a new President. But the budget and accompanying Presidential rhetoric includes several other messages as well. One message is...
  • Gingrich Policies Would Create 6.6 Million Jobs in First Two Years; Balance Budget in First Term

    02/23/2012 10:30:54 AM PST · by Bobbisox · 27 replies · 1+ views
    Newt.Org ^ | February 23, 2012 | Newt Gingrich
    Atlanta, GA – Newt 2012 Senior Economic Policy Advisor Peter Ferrara released the following topline summary of the official score of Newt’s Jobs and Economy Recovery Plan, which predicts Gingrich policies would balance the budget within the first term of a Gingrich presidency and lead to 6.6 million new jobs created in two years: Newt Gingrich has proposed a very aggressive, comprehensive, supply side economics, jobs and economic recovery plan. It features dramatically lower personal and corporate tax rates, the elimination of the capital gains tax and death tax, deregulation and sound monetary policy. The plan would especially roll back...
  • The Real Obama

    02/21/2012 6:20:14 AM PST · by safetysign · 10 replies
    The Weekly Standard ^ | 02/27/2012 | Fred Barnes
    President Obama’s budget for 2013 is pure Obama. How do we know? Paul Ryan, the House Budget Committee chairman, was once asked how to become a budget expert. “You have to read the budget,” he said. To know Obama, it’s similar. You have to read the speeches and look over the budgets. For the past year, they’ve told the same story. No, the real Obama is not a pragmatist or a frustrated moderate or a well-intentioned but weak politician forced by political circumstances to take positions he’d rather not. Only sympathizers, notably media types, believe any of those notions. The...
  • Senate’s Intransigence Should Prompt Repeal of the Seventeenth Amendment

    02/20/2012 1:03:56 PM PST · by Starman417 · 24 replies · 1+ views
    Flopping Aces ^ | 02-20-12 | Leo Shishmanian
    As of today, it has been 1,028 days since the U.S. Senate last passed a budget.That's about 20 dog years.Imagine if you were employed in a business where one of your duties was to plan an annual budget for each upcoming year and you just decided you weren't going to do it.  And 1,028 days later, you still had not done it.  Assuming your employer hadn't already canned, assuredly you would lose your job after such a long failure.  If you are a Democratic Senator, however, you not only keep your job because a majority of the people still...
  • Budget cuts push flight security back to pre-9/11 risks

    02/20/2012 5:46:21 AM PST · by cap10mike · 52 replies · 1+ views
    BizPacReview.com ^ | February 20, 2012 | Michael Dorstewitz
    A United Airlines flight has taken off from New York without incident, and is now winging its way toward Los Angeles. Some passengers are readying their iPads and notebook computers in anticipation of an OK from the crew to power up their devices. Others are settling into their seats with a good book, or maybe a few winks of much-needed sleep. As the plane begins to level off at its assigned cruising altitude, the “Fasten Seat Belt” light is finally extinguished. That’s when all hell breaks loose. Three burly terrorists rush the cockpit door and ....
  • Budget Request Preserves Troop Health Benefits, Official Says

    02/17/2012 9:44:59 PM PST · by Greenpees · 6 replies
    American Forces Press Service ^ | WASHINGTON, Feb. 14, 2012 | By Karen Parrish
    Proposed changes include: -- Increasing enrollment fees for retirees under age 65 in the TRICARE Prime health plan, using a tiered approach based on retired pay that requires senior-grade retirees with higher retired pay to pay more and junior-grade retirees less; -- Establishing a new enrollment fee and increasing deductibles for the TRICARE Standard and TRICARE Extra plans; -- Establishing a new, tiered enrollment fee for the TRICARE-for-Life program for retirees 65 and older; -- Increasing pharmacy co-pays while offering incentive costs for use of mail order delivery and generic medicines; -- Indexing fees, deductibles, pharmacy co-pays, and catastrophic caps...
  • Auditor: EU agencies mismanaging their budgets

    02/16/2012 7:51:37 PM PST · by Olog-hai · 5 replies
    EU Observer ^ | 16.02.12 @ 19:19 | Valentina Pop
    A report by the European Court of Auditors has found problems in the way the EU's 31 agencies manage their budgets. The findings are likely to fuel the debate about the usefulness of the bodies in a time of austerity. The report—sent on Wednesday (15 February) to the European Parliament and seen by EUobserver—analyzes the costs, financial management and "operational efficiency" of 22 out of the EU's 31 autonomous agencies. The agencies do studies on issues ranging from drug addiction to trademark registration and police co-operation. They are an object of national pride and hotly contested negotiations between member states...