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Keyword: cuts

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  • GOP Candidates Inflexibility On Tax Increases Shows They Are Out Of Touch With Americans

    08/12/2011 11:07:25 AM PDT · by Oldeconomybuyer · 40 replies
    ABC News ^ | August 12, 2011 | by Mary Bruce
    Reacting to last night’s GOP presidential debate, the White House said today that the 2012 candidates proved themselves to be out of touch with Americans by saying they would refuse to accept tax increases as part of a debt deal. In Ames, Iowa last night the candidates were asked if they would refuse to accept a budget deal with a 10-to-1 ratio of spending cuts to tax increases. All eight presidential contenders raised their hands. “That’s clearly not where the American people are,” Principal Deputy Press Secretary Josh Earnest told reporters today. “That basically puts these candidates in a position...
  • Moody's says U.S. needs to find more deficit cuts

    08/08/2011 6:17:21 AM PDT · by markomalley · 52 replies · 1+ views
    Reuters ^ | Mon Aug 8, 2011 | Walter Brandimarte
    Ratings agency Moody's repeated a warning on Monday it could downgrade the United States before 2013 if the fiscal or economic outlook weakens significantly, but said it saw the potential for a new debt agreement in Washington to cut the budget deficit before then. With U.S. markets still to open after rival Standard & Poor's stripped the United States of its AAA rating late on Friday, Moody's said in a statement its own decision to affirm the AAA rating on August 2 was on the condition that further cuts were found. "For the Aaa rating to remain in place, we...
  • Under debt deal, military pay, veterans programs in play for cuts

    08/04/2011 11:09:31 AM PDT · by SkyPilot · 58 replies
    Government Executive ^ | 3 Aug 2011 | Bob Brewin
    Military pay raises, funding for veterans health care and the Post-9/11 GI Bill could be sacrificed to new fiscal realities as the result of the deal signed by President Obama on Tuesday to raise the federal debt ceiling, according to the Military Officers Association and veterans groups. The law requires the federal budget be cut $2.1 trillion over 10 years. The White House said it plans to cut $350 billion from the Defense Department budget (excluding war funding) over the next decade. Retired Air Force Col. Michael Hayden, the association's deputy director for government relations, said this means "everything is...
  • Illinois lawmakers react to debt deal (Kirk, Schakowsky and Davis Quotes)

    08/02/2011 9:15:23 AM PDT · by arkady_renko · 8 replies
    WLS - Chicago | 8/1/2011 | Sarah Shulte
    The no's came from both sides of the aisle. Two Illinois Democrats and three Republicans voted the deal down. ... Jackson Jr. voted against the bill saying the cuts will do nothing to get Americans back to work. Evanston Congresswoman Jan Schakowsky says she couldn't vote for a bill that opens the door to entitlement cuts and does not include tax increases for the wealthy. "I really couldn't in the consciousness do this, which raises $1 trillion in spending cuts[?] of the middle class, the poor, seniors, while millionaires and billionaires are still not asked to pay a single penny,"...
  • Inside the Beltway: Where an Increase Becomes a Cut

    08/01/2011 11:44:38 AM PDT · by Kaslin · 5 replies ^ | August 1, 2011 | Bill Tatro
    I just love Washington-speak which offers heartfelt phrases such as “baseline spending,” “debt ceiling,” “drop dead dates,” and my ultimate favorites, “the cut,” “to cut,” “a cut,” or just simply “cuts.” Like the phrase “beauty is in the eye of the beholder,” a “cut” means different things to different people. Let me explain by first discussing common-speak, which is very easy to understand. When someone takes a cut in pay, it could mean going from $20 per hour to $15 per hour. Or, they’re paid $30,000 per year for a job that used to pay $35,000 per year. To most...
  • Baseline Budgeting Makes Real Cuts Impossible in Washington

    08/01/2011 3:49:37 AM PDT · by Son House · 23 replies
    Rush Limbaugh Show ^ | July 27, 2011 | Rush Limbaugh
    For those of you that don't know what the baseline is and how baseline budgeting works, let me give you the real quick explanation of it. When you put together your budget, if you do one, you take last year's spending and income and you take a look at it and you figure out if you spent more than you had, or if you didn't spend more than you had, what did you do with what you had left over, where did it get spent. If the next budget you prepare has to be smaller because your income's dropped, you...
  • Eleven (faith leaders) arrested after Capitol sit-in against budget cuts

    07/29/2011 3:00:36 AM PDT · by Libloather · 9 replies
    The Hill ^ | 7/28/11 | Debbie Siegelbaum
    Eleven arrested after Capitol sit-in against budget cutsBy Debbie Siegelbaum - 07/28/11 02:04 PM ET U.S. Capitol Police arrested 11 Christian and Jewish faith leaders Thursday after they staged a Capitol sit-in against budget cuts. The group called on the Obama administration and Congress not to “balance the budget on the backs of the poor,” according to the release sent out after the incident. The religious leaders, members of an interfaith coalition to protect the poor, have been charged with demonstrating within a U.S. Capitol building, according to a Capitol Police spokeswoman. All have been taken to Capitol Police headquarters...
  • J&J cuts maximum Tylenol dose to prevent overdoses

    07/28/2011 1:43:08 PM PDT · by EBH · 12 replies
    Yahoo/Finance ^ | 7/28/11 | Linda A. Johnson
    Johnson & Johnson said Thursday that it's reducing the maximum daily dose of its Extra Strength Tylenol pain reliever to lower risk of accidental overdose from acetaminophen, its active ingredient and the top cause of liver failure. The company's McNeil Consumer Healthcare Division said the change affects Extra Strength Tylenol sold in the U.S. -- one of many products in short supply in stores due to a string of recalls. Starting sometime this fall, labels on Extra Strength Tylenol packages will now list the maximum daily dose as six pills, or a total of 3,000 milligrams, down from eight pills...
  • TPM: Senate Democrats Declare “Cut, Cap, and Kill Medicare” Dead On Arrival

    07/20/2011 11:14:19 AM PDT · by tcrlaf · 21 replies
    TPM ^ | 7-20-11 | Igor Bobic
    Senate Democrats today unleashed a torrent of criticism against the GOP's Cut, Cap, and Balance Act which passed the House late last night via a heavily partisan vote, re-branding it as a political scheme that would "kill medicare" and one that would never pass in the Senate. "Let me make this as simple as I can: the Republican scheme to cap, cut, and kill medicare is dead on arrival in the senate," declared Sen. Chuck Schumer (D-NY) at a press conference in Washington. "[It] would wreak havoc on our country's seniors, the middle class, military preparedness, and our country's standing...
  • Indiana ends budget year with $1.2B surplus

    07/19/2011 6:34:49 AM PDT · by doug from upland · 21 replies
    yahoo finance ^ | July 2011
    Indiana ends budget year with $1.2B surplus July 14, 2011, 6:47 pm EDT INDIANAPOLIS (AP) -- After a year of spending cuts to state agencies and school districts, during which state workers were asked to do more than ever, Indiana released its final budget numbers for the fiscal year that showed it sitting on a $1.2 billion surplus. State Auditor Tim Berry called the state workers who bore most of those budget cuts via greater workloads, "heroes." "The surplus was built on the backs of state employees," said Berry, after he thanked them for tightening their belts. Republican Gov. Mitch...
  • Proposed Cuts from The GOP This Session Would Save $2.5 Trillion Over 10 Years...

    07/19/2011 3:28:37 AM PDT · by Reaganite Republican · 24 replies
    Reaganite Republican ^ | July 19, 2011 | Reaganite Republican
    • Corporation for Public Broadcasting Subsidy. $445 million annual savings. • Save America 's Treasures Program. $25 million annual savings. • International Fund for Ireland . $17 million annual savings. • Legal Services Corporation. $420 million annual savings. • National Endowment for the Arts. $167.5 million annual savings. • National Endowment for the Humanities. $167.5 million annual savings. • Hope VI Program. $250 million annual savings . • Amtrak Subsidies. $1.565 billion annual savings . • Eliminate duplicative education programs. H.R. 2274 (in last Congress), authored by Rep. McKeon, eliminates 68 at a savings of $1.3 billion annually.• U.S. Trade Development Agency. $55 million annual savings. • Woodrow Wilson Center Subsidy. $20 million annual savings . •...
  • Tom Coburn’s $9 trillion debt plan (Twice the scale of Paul Ryan's plan)

    07/18/2011 8:46:26 AM PDT · by SeekAndFind · 39 replies
    Hotair ^ | 07/18/2011 | Ed Morrisey
    Late last week, it looked like Tom Coburn might rejoin the Gang of Six in the Senate, which restarted their efforts to find a compromise on the budget as the debt-ceiling limit debate rages. Today, however, Coburn will become a Gang of One by releasing his own plan to reduce the deficit by twice the amount of the Paul Ryan plan. Unlike Ryan, Coburn plans on increasing federal revenues, but through reform of the tax code: Sen. Tom Coburn (R-Okla.) said Sunday the federal government can save $1 trillion though tax reform, a proposal that will put him at odds...
  • BREAKING: Republicans to Vote on $2.4 Trillion in Cuts With Debt Ceiling Increase

    07/15/2011 10:07:48 AM PDT · by Nachum · 175 replies
    Townhall ^ | 7/15/11 | Katie Pavlich
    The Wall Street Journal is reporting House Republicans will vote next week to cut $2.4 trillion over the next ten years while increasing the debt ceiling by a $2.4 trillion. House Republicans said Friday that they planned to vote next week on a proposal to raise the debt ceiling by $2.4 trillion, with matching cuts and guidelines to control future government spending. House Majority Leader Eric Cantor (R., Va.) said at a news conference Friday that the House next week would vote on a "cut, cap and balance" approach. The House plans to separately vote on a measure that would...
  • McConnell Labels the Obama Cuts a Sham

    07/12/2011 10:01:55 AM PDT · by mdittmar · 13 replies
    The Weekly Standard ^ | Jul 12, 2011 | FRED BARNES
    Senate Republican leader Mitch McConnell challenged President Obama’s claim to support trillions in serious spending cuts as part of a deal to raise the debt ceiling – cuts the president says show he’s ready to anger Democrats to get a deal. In a sharply worded speech on the Senate floor today, McConnell labeled the Obama cuts a sham. “We all saw how it worked,” he said. “The administration leaked to the media, without any details, the idea that it was willing to go along with trillions in spending cuts.”But the cuts are largely illusory, McConnell indicated. Obama hoped “the budget...
  • The Overhyped Defense Cuts

    07/10/2011 8:35:33 AM PDT · by Kaslin · 38 replies ^ | July 10, 2011 | Steve Chapman
    Politicians often rail against government spending, except when it goes to the military. Conservatives believe there is no such thing as too much defense spending, and liberals don't argue, for fear of being labeled appeasers. So when there is talk of the two parties agreeing to cut the Pentagon budget, it sounds like a monumental change. But probably not. It's a good thing that defense, which accounts for roughly a fifth of all federal outlays, is no longer considered immune to the need for frugality. But both supporters and opponents have a stake in portraying any trims as far more...
  • Officials: President Obama seeks $3 trillion to $4 trillion in cuts

    07/07/2011 5:07:50 AM PDT · by sunmars · 138 replies
    Washington (CNN) - President Barack Obama is seeking $3 trillion to $4 trillion in deficit cuts over the next decade, a move that would require putting Social Security, Medicare, defense spending and tax reform on the table as part of a balanced approach to cuts, Democratic officials familiar with the negotiations told CNN. The officials, speaking on condition of anonymity, did not say what types of cuts would have to be considered under such a proposal. In the past, one Social Security adjustment debt negotiators have discussed is cost-of-living.
  • Administration Offers Health Care Cuts as Part of Budget Negotiations (Commiecare™ premiums rise?)

    07/05/2011 6:09:15 AM PDT · by Libloather · 13 replies
    NY Times ^ | 7/04/11 | ROBERT PEAR
    Administration Offers Health Care Cuts as Part of Budget NegotiationsBy ROBERT PEAR Published: July 4, 2011 WASHINGTON — Obama administration officials are offering to cut tens of billions of dollars from Medicare and Medicaid in negotiations to reduce the federal budget deficit, but the depth of the cuts depends on whether Republicans are willing to accept any increases in tax revenues. Administration officials and Republican negotiators say the money can be taken from health care providers like hospitals and nursing homes without directly imposing new costs on needy beneficiaries or radically restructuring either program. Before the talks led by Vice...
  • Jerry Brown, Democratic Leaders Announce Budget Deal

    06/27/2011 7:06:27 PM PDT · by Mariner · 13 replies
    The Sacramento Bee ^ | June 27th, 2011 | Torey Van Oot
    Gov. Jerry Brown and Democratic legislative leaders announced today that they have reached an agreement on a new majority-vote budget plan. "We've had some tough discussions, but I can tell you that the Democrats in both the Senate and the Assembly have now joined with the administration and myself and we have a very good plan going forward with the budget," Brown said at a press conference in his office this afternoon. The proposal, outlined in this post, assumes that the state will bring in an additional $4 billion in revenues in the upcoming fiscal year, based in part on...
  • Global Warming News From The Brits (UK dooms itself)

    05/29/2011 10:08:34 PM PDT · by Tolerance Sucks Rocks · 24 replies
    Right Wing News ^ | May 29, 2011 | Dennis Avery
    CHURCHVILLE, VA—My colleague Bennie Peiser, of Britain’s Global Warming Policy Foundation, offers some of his latest man-made global warming news: The Sunday Times noted on May 22 that the UK government has agreed to cut its greenhouse emissions 50 percent by 2027. As a result, “Tata Steel last week announced it was cutting 1,500 jobs at its Scunthorpe and Teeside plants. The company, which employs 21,000 in Britain, has held high-level talks with government in recent weeks over its energy plans. . . . Ineos founder Jim Ratcliffe warned that he could be forced to shut the firm’s Runcorn chlorine...
  • Palin cuts ties to Soros-linked aides

    05/03/2011 7:01:46 PM PDT · by Nachum · 23 replies
    Salon ^ | 5/3/11 | Justin Elliott
    The big Sarah Palin news today is that she has lost her longtime foreign policy adviser, Randy Scheunemann. Scheunemann is a well-known neoconservative who worked for Jesse Helms and was intimately involved in the push for the Iraq war. He later became an aide to John McCain on the 2008 presidential campaign, where he met and linked up with Palin. He's been associated with her ever since. The question is: Why did they Scheunemann, who runs the lobbying firm Orion Strategies, leave Palin now?