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Keyword: spendingcuts

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  • Tax Reform Useless Without Spending Reform

    05/20/2014 2:26:04 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | May 20, 2014 | Ron Paul
    Recently, Republican leaders in Congress unveiled a "tax reform" plan that they claimed would provide the American people with a simpler, fairer, and more efficient tax system. While this plan does lower some tax rates and contains some other changes that may make next April a little less painful for Americans, there is little in it to excite supporters of liberty. Taxes may even increase under this plan for some Americans, as it eliminates some of those tax deductions labeled “loopholes.” When I served in Congress I opposed bills that “closed loopholes” because closing loopholes is just a fancy way...
  • Boxer: ‘Absolutely No Way We’re Going to Cut Spending’

    03/03/2014 10:16:30 AM PST · by Olog-hai · 28 replies
    Cybercast News Service ^ | March 3, 2014 - 11:23 AM | Eric Scheiner
    While discussing federal spending and transportation funding, Sen. Barbara Boxer (D-Calif.) said “there is absolutely no way we’re going to cut spending.” Boxer was discussing the Highway Trust Fund with members of the American Association of State Highway and Transportation Officials (AASHTO) in Washington on Feb. 26th, when she addressed various tax increases that may be used to raise money for the program. “I don’t see support for raising the gas tax and there is absolutely no way we’re going to cut spending, so it’s going to have to be a creative way to fund this in reality,” Boxer said....
  • Ryan-Murray Budget Deal Eliminates Spending Cuts

    12/10/2013 3:24:59 PM PST · by Olog-hai · 53 replies
    Newsmax ^ | Tuesday, 10 Dec 2013 05:53 PM | Todd Beamon
    Congressional budget negotiators have reached a two-year agreement aimed at avoiding a government shutdown on Jan. 15 and setting federal government spending levels through Oct. 1, 2015. Democratic Senator Patty Murray and Representative Paul Ryan scheduled a news conference for 6 p.m. EST to announce the details of the deal they worked out. … As details of a budget deal trickled out of Washington on Tuesday, conservative groups prepared to oppose any agreement that would alter the automatic spending cuts from the 2011 deal. Republican and Democratic negotiators’ budget agreement would stop as much as $65 billion in sequestration cuts...
  • Obama says he doesn't want to hear about spending cuts

    10/25/2013 5:37:34 PM PDT · by Sub-Driver · 56 replies
    Obama says he doesn't want to hear about spending cuts By Justin Sink - 10/25/13 04:41 PM ET President Obama told Republicans in Congress that he doesn't want to hear about additional cuts to government programs after the 16-day shutdown. The president said the country can afford to make investments in areas like education, and he noted that the shutdown cut into the economy. “Don't tell me we can afford to shut down the government, which costs our government billions of dollars, but we can't afford to invest in our kids,” Obama said at a school in Brooklyn. “This obsession...
  • White House doubles down on vow Obama won't agree to more spending cuts

    07/28/2013 11:41:54 AM PDT · by Innovative · 37 replies
    FoxNews ^ | July 28, 2013 | FoxNews
    The Obama administration dug in Sunday on its vow to reject proposed spending cuts by congressional Republicans in upcoming budget talks, but declined to say whether the president would veto their proposals or allow a government shutdown. Treasury Secretary Jack Lew told “Fox News Sunday” that President Obama will neither sign government funding bills that slash domestic spending nor negotiate with Republicans over spending cuts to reduce the federal debt limit. He also said the president was not going to accept a budget in which domestic spending is further cut to soften the blow to Defense spending.
  • Vacant Buildings Now Cost Half Billion Dollars Plus, But Who’s Counting? Not the Government

    06/17/2013 3:48:59 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | June 17, 2013 | John Ransom
    Two weeks ago I reported on the $250 million real estate boondoggle by the General Services Administration whereby the GSA is moving the Coast Guard out of an existing, below-market lease at the cost to taxpayers of $250 million dollars.  Today I’m reporting on another, MORE EXPENSIVE real estate boondoggle by the GSA, which leads me to believe that if Congress is really serious about making real cuts to federal expenses that they can start with some easy cuts on federal real estate and personnel costs at the GSA. That’s because according to the House Committee on Transportation and Infrastructure,...
  • CBO: Obama Vastly Exaggerated Deficit Cuts In Budget

    05/17/2013 3:00:53 PM PDT · by IBD editorial writer · 3 replies
    Investor's Business Daily ^ | 05/17/2013 | John Merline
    President Obama vastly exaggerated the spending cuts and deficit reduction his budget plan would produce, while dramatically undercounting the level of tax hikes, according to a Congressional Budget Office analysis of his budget released Friday. When Obama put out his budget in mid-April he said that it "will reduce our deficits by nearly another $2 trillion," and "does so in a balanced and responsible way, a way that most Americans prefer." But the CBO report finds that Obama´s budget will cut 10-year deficits by just $1.1 trillion, with annual deficits starting to rise again after 2017.
  • Behind the Scenes, Boehner Saving Taxpayers Millions

    04/27/2013 10:32:32 PM PDT · by Kaslin · 32 replies
    Townhall.com ^ | April 27, 2013 | Daniel Doherty
    House Speaker John Boehner took a lot of heat in January when he rubber-stamped the president’s job-crushing tax increases. Indeed, an entire movement sprang up on Twitter -- symbolized by the hashtag #FireBoehner -- in the weeks prior to the “compromise” urging conservative members of Congress to oust him from his position of leadership in part because he publicly proposed tax hikes as part of the negotiations. The initiative failed, of course, but that didn’t stop Republicans from bristling at Boehner’s supposed betrayal and questioning his leadership. Now, it seems, that’s all water under the bridge -- at least for...
  • Pelosi: “Very Little” Gov’t Left If Spending Cuts are Matched with Debt-Limit Increase

    03/22/2013 12:54:47 PM PDT · by Olog-hai · 36 replies
    Cybercast News Service ^ | March 21, 2013 | Elizabeth Harrington
    Leader Nancy Pelosi (D-Calif.) said if a debt limit increase is matched with federal spending cuts later this year, there will be “very little” of the “public space” left. During a Thursday press conference on Capitol Hill, Pelosi was asked about Speaker of the House John Boehner (R-Ohio) who said any increase in the debt limit when it is met this August should be accompanied with “dollar for dollar” spending cuts. “Yes, that’s what the Speaker says, and that is certainly in keeping with the anti-government ideologues that are in his caucus,” Pelosi said. “If you keep cutting investments in...
  • Behind All the Hullabaloo, the Secret About Those Budget Cuts

    03/07/2013 11:08:22 AM PST · by Kaslin · 2 replies
    Townhall.com ^ | March 7, 2013 | Paul Greenberg
    There's a secret lurking behind all that weeping and wailing over those across-the-board cuts in federal spending now going into effect -- and beginning to filter through the economy: They're working. The emphasis in the news continues to be on the economic repercussions of Washington's meat-ax approach to reining in the federal debt. "But lost in the talk of Washington's dysfunction," to quote a story from the New York Times over the weekend, "is this fact: On paper at least, President Barack Obama and Congress have reduced projected deficits by nearly $4 trillion over a decade -- the widely embraced...
  • Spending Cuts May Be Answer to Slow Economic Growth

    03/07/2013 5:54:11 AM PST · by Kaslin · 5 replies
    Townhall.com ^ | March 7, 2013 | Michael Barone
    The Dow set a new high on Tuesday, but the larger economy is a different story. What if today's sluggish economic growth turns out to be the new normal? That's the unsettling question asked by some of our most creative economic thinkers. And the people asking it are not necessarily partisan opponents of the Obama administration. They argue that economic growth rates were disappointing even before the financial collapse and recession of 2007-09. Take Tyler Cowen, author of the e-book (belatedly published in print) "The Great Stagnation." Economic growth is the product of increases in the labor supply and...
  • The Customary Crisis

    03/01/2013 9:16:03 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | March 1, 2013 | Paul Greenberg
    Here we go again. And again. And again. ... For in Washington, every day is Groundhog Day. And now, once again, the country is speeding toward the dreaded ... Fiscal Cliff! Not to mention Catastrophe, Chaos and Collapse. Or maybe Stalemate, Train Wreck, Dysfunction or whatever your favorite clich may be. So quick, get the scare headlines back in type. The Great Tax vs. Spend Debate is on again, if it ever went away. With each side blaming the Coming and Constant Crisis on the other. . . But wait, haven't we seen this movie before? Like in 2011, 2012...
  • Holding the President's Men Accountable

    03/01/2013 8:54:37 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | March 1, 2013 | Linda Chavez
    When one of Washington's most distinguished journalists -- Bob Woodward -- accuses the White House of rewriting history, even liberals should take note. And when the White House responds by threatening him, you would think the story would become a national scandal. What makes the story even more important is that it deals with an issue that has dominated the news in recent weeks: the Draconian budget cuts that will take effect on March 1 unless a last-minute deal is reached in Congress. Woodward has accused the White House of misrepresenting the president's role in creating the plan to cut...
  • Gullible Nation

    03/01/2013 6:20:44 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | March 1, 2013 | Mona Charen
    Responding to the Obama administration's operatic warnings of catastrophe for Meals on Wheels for the elderly, Head Start, meat inspections, air traffic controllers, and police, fire, and 911 operators if the government reduces the rate of increase of federal spending by 2 percent, radio host Chris Plante offered the following suggestion: "Since this two percent obviously covers all essential government spending, let's cut the other 98 percent!" Even if these "draconian cuts" are implemented, the federal government will spend more this year than it did last year. Another way to think about it is this: In 2007, the government was...
  • Obama's Sequester Math: $300 Billion In New Revenues Called 'Spending Cuts'

    03/01/2013 4:25:26 AM PST · by IBD editorial writer · 4 replies
    Investor's Business Daily ^ | 02/28/2013 | IBD Staff
    Budget: When President Obama put out his "balanced" plan to avoid the automatic sequester cuts, no one noticed. Which is probably just as well for Obama, given how embarrassingly unbalanced it is. Last week, New York Times columnist David Brooks wrote about how Obama "hasn't actually come up with a proposal to avert sequestration, let alone one that is politically plausible." Turns out, Obama did have one, although Brooks can be excused for not knowing it, since the administration hasn't exactly been promoting this so-called plan.
  • Sequester: Sound and Fury; Signifying Nothing

    02/25/2013 6:38:31 AM PST · by Kaslin · 8 replies
    Townhall.com ^ | February 25, 2013 | Dan Holler
    With the March 1st deadline for the sequester looming, the chorus of politicians and pundits decrying its passage in apocalyptic terms has reached a fevered pitch. These are the same political leaders who in the summer of 2011 agreed to implement these cuts if a broader spending deal could not be reached. The negotiations carried out by the Super Committee collapsed and the sequester agreement was passed and signed into law. For months, the Administration promised the sequester would be turned off with a deal to offset the automatic across-the-board spending cuts. The President even went so far as to...
  • Extortionist In Chief

    02/21/2013 3:44:55 PM PST · by Kaslin · 1 replies
    Townhall.com ^ | February 21, 2013 | Cal Thomas
    At the end of 1995 and stretching into January 1996, the federal government "shut down" because of an impasse between President Bill Clinton and House Republicans led by then-House Speaker Newt Gingrich. The issue was increased taxes vs. less spending. Sound familiar? The government re-opened when a bipartisan agreement was reached to balance the budget by 2003. It wasn't for reasons that included, but were not limited to, two wars. Now the national debt is racing toward an unsustainable $17 trillion. This time around it isn't about closing government. It's about "sequestration," which President Obama, the Democrats and their big...
  • CONSERVATIVE COLUMNIST: Spending Cuts Are Pushing Us Towards A Recession

    01/30/2013 10:10:13 AM PST · by blam · 32 replies
    CONSERVATIVE COLUMNIST: Spending Cuts Are Pushing Us Towards A Recession Brett LoGiuratoJanuary 30, 2013 Washington Post conservative columnist Jennifer Rubin has joined the voice of many conservatives lamenting the surprising drop in GDP last quarter. In her post, Rubin argues that spending cuts and Obama's regulations are pushing us toward a recession. The big reason for the surprise drop in fourth-quarter GDP was because of a drop in government spending, particularly a stunning fall in defense and military spending. Rubin writes: "I don’t know why they say the drop is unexpected. We are preparing to decimate national security, at a...
  • Air Force memo outlines sweeping budget cuts

    01/13/2013 7:42:23 PM PST · by ducttape45 · 53 replies
    Yahoo News ^ | 1/11/2013 | Lolita Baldor
    WASHINGTON (AP) — Air Force leaders will cut flying hours by nearly 20 percent and prepare for a possible end to all noncombat or noncritical flights from late July through September if Congress can't agree on a budget and billions of dollars in automatic cuts are triggered.
  • Looming defense cuts had uneasy contractors leaving industry long before budget crisis

    01/13/2013 7:31:43 PM PST · by ducttape45 · 13 replies
    Foxnews.com ^ | 1/13/2013 | Fox News
    The announcement that the Pentagon would scale back defense contracting amid massive budget cuts was unsettling but expected news for some contractors who have already left the industry amid the uncertainty that has loomed over them for nearly 18 months.
  • The Republicans -- After Dunkirk

    01/04/2013 7:44:16 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | January 4, 2013 | Pat Buchanan
    At the Potsdam conference with Harry Truman and Josef Stalin, Winston Churchill learned that the voters of the nation he had led for five years through World War II had just voted to throw him out of office. "It may well be a blessing in disguise," said his wife Clementine. "At the moment, it seems quite effectively disguised," replied Churchill. Republicans must feel that way today. For they have survived their own Dunkirk. They may have left their helmets, canteens and rifles behind, but they did finally get off the beach. That Republicans suffered a rout, as the British did...
  • 62% Claim They Favor Across-the-Board Spending Cuts (But they don't really mean it)

    01/02/2013 9:35:41 AM PST · by SeekAndFind · 12 replies
    Pajamas Media ^ | 01/02/2013 | Bryan Preston
    If this Rasmussen poll reflected reality, our politics would be entirely rearranged. 62% Favor Across-the-Board Spending Cuts, But 57% Think They’re Unlikely That's the headline. Here's some of the write-up. Even as official Washington signs off on a “fiscal cliff” deal with $1 in spending cuts to every $41 in new taxes, most voters continue to favor across-the-board spending cuts but doubt they are likely to happen. A new Rasmussen Reports national telephone survey finds that only 39% of Likely U.S. Voters think it is even somewhat likely that government spending will be significantly reduced over the next few...
  • Can a Grand Bargain Ever Work?

    12/01/2012 2:02:19 PM PST · by Kaslin · 8 replies
    Townhall.com ^ | December 1, 2012 | John C. Goodman
    The idea behind a grand bargain to get the federal budget deficit under control is a simple one. Republicans agree to tax increases and Democrats agree to spending cuts. In a previous post I warned that this could be a trap for Republicans, just like similar budget deals have been in the past.There are two problems. First, the tax increases will hit immediately, while the spending cuts will be mainly in the future. That means future Congress's will have an opportunity to renege on the agreement before any serious spending reduction takes place. Second, all the serious spending increases in...
  • Beware the "Grand Bargain"

    10/27/2012 2:45:59 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | October 27, 2012 | John C. Goodman
    Barack Obama really does have a plan for the next four years. When he thought he was speaking off the record to the Des Moines Register the other day, he said he wanted to negotiate a "grand bargain" with the congressional Republicans. It would include spending reductions and tax increases to reduce forecasted federal deficits. About the same time that the president was giving his interview, more than 80 CEOs of some of the nation’s largest companies were making a similar announcement. To get the country’s fiscal house in order, they said, we need both spending reductions and tax increases.The...
  • A Foreign Policy of Arrogant Meddling

    10/24/2012 7:56:48 AM PDT · by Kaslin
    Townhall.com ^ | October 24, 2012 | Jacob Sullum
    A year before Mitt Romney picked him as a running mate, Paul Ryan gave a speech in which he discussed the promise and peril of the Arab Spring. "It's too soon to tell whether these revolutions will result in governments that respect the rights of their citizens or in one form of autocracy ... supplanting another," he said. "While we work to assure the former, American policy should be realistic about our ability to avert the latter." More generally, Ryan said, "American policy should be tempered by a healthy humility about the extent of our power to control events in...
  • Forty Four Companies That Could Get Crushed If The Government Cuts Spending

    09/22/2012 7:09:34 AM PDT · by blam · 47 replies
    TBI ^ | 9-22-2012 | Rob Wile
    44 Companies That Could Get Crushed If The Government Cuts Spending Rob WileSep. 21, 2012, 4:16 PM The threat of the "fiscal cliff" remains one of the most important events weighing on U.S. markets To recap, if Congress does nothing before the end of the year, a series of tax cuts and spending programs will expire and combine to shrink GDP by up to 4 percent, according to Goldman Sachs analysts. While we'd all suffer, some companies would get hit more than others. The last time we had a major debate on government spending levels — the debt ceiling talks...
  • Blame Game Continues Over Spending and Tax Cuts

    08/02/2012 6:04:58 PM PDT · by LD Jackson
    Political Realities ^ | 08-02-2012 | LD Jackson
    I once heard a saying that there are two things we can all depend on. The first was death and the second was taxes. We are all going to die and we are all going to pay taxes. I want to add a third item to that list. We can also depend on Congress to play the blame game when it comes to issues that are political hot potatoes. Such is the case with the fight over upcoming automatic spending cuts and the expiration of the Bush tax cuts. Everywhere I turn, there seems to be a story about the...
  • Budget Insanity

    07/11/2012 4:16:49 AM PDT · by Kaslin · 31 replies
    Townhall.com ^ | July 11, 2012 | John Stossel
    Last year, Congress agreed to $1.2 trillion in automatic spending cuts, unless politicians find other things to cut. They didn't, of course. So now, with so-called sequestration looming in January, panic has set in. Even the new "fiscally responsible" Republicans vote against cutting Energy Department handouts to companies like Solyndra and subsidies to sugar producers. Many claim that any cut in military spending will weaken America and increase unemployment. It's another demonstration of the politicians' addiction to spending -- and how we are complicit. "One more infrastructure bill" or "this jobs plan" will jumpstart the economy, and then we'll kick...
  • Jeb Bush distances himself from GOP on taxes (wants to raise 'em)

    06/01/2012 6:16:07 PM PDT · by Deo volente · 68 replies
    CBS News ^ | June 1, 2012 | Rebecca Kaplan
    (CBS News) Showing his willingness to break from his party, former Florida Gov. Jeb Bush said on Friday he would accept $10 in spending cuts for every $1 in revenue increases and criticized activist Grover Norquist's no-tax pledge that most GOP lawmakers have signed.
  • Rand Paul: Supercommittee Failure May Be Best Option to Force Spending Cuts

    11/20/2011 1:56:11 PM PST · by MNJohnnie · 20 replies
    Newsmax.com ^ | 11-20-11 | Amy Woods
    Kentucky Republican Sen. Rand Paul said that, if the congressional supercommittee fails to reach a deficit-reduction agreement before Thanksgiving, that might be the best way to force the government to cut spending. "It's sort of like telling your children that, if you don't clean up your mess — or else," Paul said today on CNN's "State of the Union." "Really, maybe we need the ‘or else’ because Congress isn't behaving the way they should be behaving. Maybe sequestration is our only way we will get any kind of cuts." Sequestration, the term used for automatic spending cuts that will be...
  • Flashback: Herman Cain wants to see $6 trillion in cuts

    10/22/2011 2:23:56 PM PDT · by justsaynomore · 77 replies
    Quad-City Times ^ | 10/21/11 | Ed Tibbets
    Negotiations on the federal debt ceiling aren't aiming high enough, Republican presidential candidate Herman Cain said in the Quad-Cities on Monday, arguing he would like to see spending cuts go as high as $6 trillion over 10 years, two to three times the level now being contemplated. Cain, the former chief executive of Godfather's Pizza, blamed President Barack Obama and Congress for allowing the debt ceiling talks to come down to the wire, saying it's a failure of leadership. In an interview, he rejected the idea negotiators should satisfy themselves with $2 trillion in cuts over 10 years. "It's not...
  • Top 10 Reasons to Support Rep. Connie Mack's Penny Plan (A Simple plan to balance the budget)

    10/09/2011 8:33:31 AM PDT · by SeekAndFind · 12 replies
    [Click here for a PDF version of this document.]1. It Would Cut Federal Spending By One Percent for Six Consecutive Fiscal Years. The Penny Plan would require Congress to cut just one penny out of each dollar it spends every year for six years. These gradual cuts over the next six years will balance the federal budget. 2. It Would Cap Overall Spending at 18 Percent of Gross Domestic Product (GDP) Starting in Fiscal Year 2018. Congressional spending consumes approximately 25 percent of GDP. Federal revenue from taxes over the past 40 years has averaged about 18 percent of...
  • Rumsfeld: Attack Imminent If Congress Cuts Defense

    09/10/2011 12:00:30 PM PDT · by Clairity · 61 replies
    Human Events ^ | Sept. 10, 2011 | Jason Mattera
    Former Defense Secretary Donald Rumsfeld warned that it will only be a matter of time before America endures another terrorist attack if Congress ends up blaming the defense budget for this country's red ink woes. "The Department of Defense is not what's causing the debt and the deficit. It's the entitlement programs," he told HUMAN EVENTS in an exclusive interview. "If we make that mistake, we're doomed to suffer another attack of some kind, and our intelligence will be less strong and less effective." Before legislators attempt to take out the nation's crushing debt on the Defense Department, they must...
  • Leveraging a Hurricane (Dems put funding electric cars ahead of disaster relief)

    09/03/2011 9:04:19 AM PDT · by Clairity · 7 replies
    Wall Street Journal ^ | Sept. 2, 2011 | WSJ Editorial
    Rahm Emanuel may have decamped to Chicago, but Democrats in Washington still won't let a good crisis go to waste. Their current gambit is to use Hurricane Irene as a pretext to prevent spending cuts to one of Washington's most notorious boondoggles. This week the left-wing press has been attacking House Majority Leader Eric Cantor for holding disaster relief funding "hostage." A more accurate way to put this is that Senate Democrats won't approve new funding for disasters unless they get the funding they want for corporations that make electric cars.
  • Green Scissors 2011...cutting wasteful and harmful spending

    08/24/2011 5:01:19 PM PDT · by Bean Counter · 3 replies
    Green Scissors dot com ^ | August 24, 2011
    Green Scissors 2011 identifies wasteful government subsidies that are damaging to the environment and could end up costing taxpayers more than $380 billion. Green Scissors 2011 builds on last year’s report by advancing cuts that could potentially save taxpayers $380 billion or more over five years. The report makes the case that the federal government can help protect our natural resources, reduce the growth of government spending, and make a significant dent in the national debt by eliminating harmful spending. The Green Scissors report finds cuts in energy, agriculture, transportation, and land and water projects. Targets include massive giveaways of...
  • What's the better austerity: more spending cuts or more taxes?

    08/22/2011 7:24:27 AM PDT · by SeekAndFind · 10 replies
    Christian Science Monitor ^ | 08/22/2011 | Stefan Karlsson
    In the debate over the effects of fiscal austerity on growth, all sides can point to examples that seem to help their case. Those who argue that deficit reduction can help growth can point to the Baltic states who pushed through even tougher measures than for example Greece and Portugal, and who are now booming, with Estonia seeing GDP increase 8.4% compared to a year earlier, Lithuania 6.1% and Latvia 5.3%. On the other hand we can see that growth in for example Britain and Portugal has slowed considerably, and in Greece we have seen a 6.9% contraction the latest...
  • Spending Cuts, Not Tax Hikes, Best for Deficit: NABE

    08/22/2011 6:51:56 AM PDT · by MNJohnnie · 12 replies
    CNBC ^ | 08-22-11 | CNBC
    The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts. The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases. As for how to reduce the deficit, nearly 40 percent said the best way would be to contain Medicare and Medicaid costs. Nearly a quarter recommended overhauling the tax system...
  • The Debt Panel’s Patty Murray Problem (Making her Supercommittee co-chair is not a good sign)

    08/12/2011 7:51:12 AM PDT · by SeekAndFind · 11 replies
    National Review ^ | 08/12/2011 | Michele Malkin
    Everything that’s wrong with the so-called debt super-committee can be summed up in the person, partisan hackery, and policy ignorance of Washington Democrat Sen. Patty Murray. On Tuesday, Senate Majority Leader Harry Reid named Murray co-chairman of the dog-and-pony deficit-reduction panel tasked with identifying $1.5 trillion in spending cuts by late November. Murray, an unrepentant nanny-state cheerleader and patron saint of the Washington lobbyist, is a double exclamation point on the debt deal’s rotten joke. Charlie Brown had Peppermint Patty. America has U.S. Mint Patty. This is a career politician who has never met a special interest she thinks shouldn’t...
  • Anarchy and Austerity: Why London Won't Be the Last City to Burn (Spending Cuts Lead to Riots?)

    08/11/2011 10:24:31 AM PDT · by SeekAndFind · 29 replies
    The Atlantic ^ | 08/11/2011
    The Great Recession gave birth to a lost generation across the world, where youth unemployment rates stretch into the 20s, 30s and even 40s. Those millions have responded with violence. The riots and fires consuming London are a story about senseless violence and crime. They are also a story about urban politics, race relations, education inequality, and British culture and society. But underneath all of that, they are part of an economic story that is universal. For the last year, Great Britain has embraced austerity to a degree that would make some American conservatives blush. The purpose of shrinking government...
  • Economic Uncertainty Leading to Global Unrest

    08/09/2011 4:53:29 PM PDT · by dragnet2 · 48 replies
    CNBC ^ | 8/9/2011
    <p>The protests have now spread to other cities, with violence reported in parts of Birmingham, Liverpool and Bristol.</p> <p>Great Britain and other parts of the world are experiencing unrest at a time of global economic uncertainty and stock market volatility.</p>
  • How About Some Real Cuts? (The grass was trimmed but alas, the landscaping postponed)

    08/05/2011 8:31:03 AM PDT · by SeekAndFind · 5 replies
    National Review ^ | 08/05/2011 | Jonah Goldberg
    Uncle Sam now owes more on his credit cards than he makes in a year. The national debt passed the total U.S. GDP this week. Mull that over for a bit. Now mull this over: Until the budget deal this week, the federal government borrowed 40 cents for every dollar it spent. And the budget deal didn’t do very much to change that. It “cut” $2 trillion over ten years, which means Uncle Sam will overspend slightly less. If we hold to the deal — and who among us doubts that Congress won’t keep its word? — spending will “only”...
  • Spending Cuts Seen as Step, Not as Cure (Does Not Actually Reduce Federal Spending) (!!?&?%#!!!)

    08/02/2011 8:44:23 PM PDT · by lbryce · 10 replies
    New York Times ^ | August 2, 2011 | BINYAMIN APPELBAUM
    There is something you should know about the deal to cut federal spending that President Obama signed into law on Tuesday: It does not actually reduce federal spending. By the end of the 10-year deal, the federal debt would be much larger than it is today. Indeed, both the government and its debts will continue to grow faster than the American economy, primarily because the new law does not address federal spending on health care. That is the reason that the ratings agency Standard & Poor’s and its rivals still are threatening to remove the United States from their lists...
  • How the SuperCommittee Might Work to GOP Advantage (Deal Requires $1.5 trillion in spending cuts)

    08/01/2011 7:17:18 AM PDT · by SeekAndFind · 27 replies
    Commentary ^ | 08/01/2011 | John Podhoretz
    The budget deal requires an additional $1.5 trillion in spending cuts to be designed by a “super-committee of legislators” who will propose painful recommendations—and if those recommendations aren’t accepted by both Houses, there will be automatic cuts to Defense and Medicare. The idea here is that Republicans will be restrained from avoiding tough choices by the supercommittee by the prospect of big defense cuts, while Democrats will feel the same way about Medicare. Oh? So, going into an extremely nerve-wracking election season, only Republicans will care about defense spending? Defense spending has been all but sacrosanct for the past decade,...
  • Reid backs debt deal if other Democrats will: aide

    07/31/2011 2:52:21 PM PDT · by mdittmar · 45 replies
    Reuters ^ | Sun Jul 31, 2011 | Reuters
    (Reuters) - Senate Democratic leader Harry Reid will support the tentative debt-ceiling deal as long as other Democrats back it as well, a spokesman said on Sunday.
  • No U.S. debt deal; Obama meeting with Democrats [latest Sun. update]

    07/24/2011 2:37:04 PM PDT · by La Enchiladita · 46 replies · 1+ views
    Market Watch ^ | July 24, 2011 | Deborah Levine
    NEW YORK (MarketWatch) — With no apparent deal to increase the U.S. debt limit in sight, President Barack Obama will be meeting with Congressional leaders of his own party later Sunday. Throughout the weekend, lawmakers and officials expressed optimism that a deal would be done before trading in major Asian markets began to avoid the possible roiling of financial markets. A White House spokesman said Obama would meet with House Democratic Leader Nancy Pelosi and Senate Majority Leader Harry Reid in the Oval Office at 6 p.m. Eastern.
  • Bernanke: deep spending cuts could derail recovery ('self-inflicted wound' looms)

    07/14/2011 10:03:10 AM PDT · by NormsRevenge · 64 replies
    Yahoo ^ | 7/14/11 | Mark Felsenthal and Pedro Nicolaci da Costa - Reuters)
    Federal Reserve Chairman Ben Bernanke warned Congress on Thursday that overzealous cuts to government spending could derail an already fragile recovery and said a U.S. debt default could wreak financial havoc. "I only ask ... as Congress looks at the timing and composition of its changes to the budget, that it does take into account that in the very near term the recovery is still rather fragile, and that sharp and excessive cuts in the very short term would be potentially damaging to that recovery," Bernanke told members of the Senate Banking Committee. Congress and the White House are stalemated...
  • Texas governor [Rick Perry] seeks advice on a GOP bid (also being briefed on U.S. defense, trade..)

    07/12/2011 2:33:21 AM PDT · by Cincinatus' Wife · 123 replies
    Boston Globe ^ | July 12, 2011 | Political Notebook
    EXETER, N.H. - Texas Governor Rick Perry has telephoned influential Republicans in early-voting New Hampshire and Iowa in recent days as he weighs whether to enter the race for the GOP presidential nomination. “He was looking for my thoughts in terms of what the presidential field looked like and what might happen if someone came in and shook things up a little bit,’’ New Hampshire Senate President Peter Bragdon said yesterday.... The conservative Texan also called several GOP leaders in Iowa, which will hold the first contest in next year’s GOP presidential race. Among those contacted, Lieutenant Governor Kim Reynolds.......
  • Texas Becomes First State in 50 Years to Actually Cut Budget Spending

    05/22/2011 11:24:06 AM PDT · by ForGod'sSake · 87 replies
    Red State ^ | May 20th, 2011 | Leon H. Wolf
    UPDATE: Reading the release a little more carefully, this is the first budget cut in Texas in 50 years. I have no idea when the last other state was to actually reduce spending. I would welcome if anyone has the answer to this question. Via the Texas Public Policy Foundation, the Texas Legislature has reached a deal for the upcoming fiscal which actually cuts government spending. This is not a reduction in the rate of growth, it is not a cut based on a proposed budget, it is not a series of accounting gimmicks, the State of Texas will actually spend...
  • AFL-CIO: House speaker 'blackmailing' America

    05/20/2011 1:53:08 PM PDT · by mdittmar · 24 replies
    CNNMoney ^ | May 20, 2011 | Jennifer Liberto
    AFL-CIO President Richard Trumka accused House Speaker John Boehner of blackmailing America for withholding his vote to raise the debt ceiling unless there are drastic spending cuts. "Now we see Speaker Boehner and his colleagues engaged in a new round of blackmail with a ransom note that reads: 'Cut Medicare, dismantle the government, destroy hundreds of thousands of jobs to fund more tax cuts for the rich, or we will cause the United States to default on its debts'," Trumka said in a speech at the National Press Club on Friday.
  • Budgeting is not rocket science

    04/19/2011 4:39:49 PM PDT · by libertycause13 · 2 replies · 1+ views
    Freedom Politics ^ | 4/17/11 | Thomas J. Lucente Jr.
    The politicians in Washington make little sense and Democratic politicians make even less sense. Budgeting is not rocket science. So listen up, Washington. You have a certain amount of revenue. That is all you can spend. If your solution to the problem is simply to increase revenue by raising taxes, you failed in your job. If you think any program you have is too important to face budget cuts, you failed in your job. Don’t talk to me about health care reform, just do your job and balance the budget. Don’t talk to me about fighting senseless wars in far-flung...