The Budget

This category contains 7 posts

The S&P Downgrade – The Actual Report

You could listen to the talking heads explain why America’s debt was downgraded, or you could just read the report yourself. The report is mainly an indictment of the current political climate in Washington.  It takes no position on methods to improve our fiscal situation (tax increases, spending cuts), nor does it imply endorsement of … Continue reading

The United States – no longer AAA

There’s no shortage of commentary on the S&P Downgrade.  Here’s a few analyses that I found interesting. Jeff Macke lays out the case for why United States deserved the downgrade. Our GDP is under 2%, our unemployment rate is over 9% and both numbers are likely much worse than advertised. Our nation turned our desperate … Continue reading

The Debt Ceiling

Suffice it to say I think the GOP’s insistence on balancing the budget through spending cuts alone (in the midst of a huge recession) is not the proper course nor mathematically sound.  If ultimately this negotiation leads to a substantive deal to handle the spending problem of our federal government, well fine.   Ross Douthat does … Continue reading

Reducing the Deficit: Spending and Revenue Options

The CBO has put together an epic 240 page document outlining 105 potential ways to reduce the national debt over the next decade.  No option is endorsed.  The document plainly lays out the current situation, how we got here, and the many politically dangerous ways that we can reduce our annual deficits. If current laws … Continue reading

There’s a Congressional Progressive Caucus budget?

I’m posting this link to Democracy in America because: a) I didn’t know there was a Congressional Progressive Caucus b) I didn’t know they released a budget plan two weeks ago c) I never put 2+2 together that the Republicans are screaming about raising the debt limit, yet the Ryan plan they endorsed INCREASES the … Continue reading

The Politics of Wishful Thinking

A quick article from Robert Samuelson about the budget. By policy and procrastination, both Democrats and Republicans would largely exempt today’s elderly from changes and shift the burden to workers and the young. That’s not “liberal” or “conservative.” It’s expedient — and bad for America’s future. It suggests the young will pay even higher taxes … Continue reading

The Ryan Budget

I looked forward to the release of Paul Ryan’s budget (Path to Prosperity).  I was hopeful that we be treated “like adults” and be presented something on par with the Bowles-Simpson plan.  I bought the media narrative that it was a bold and would change the conversation. Dismantling Medicare?  Ok maybe a bit far, but … Continue reading