Debt ceiling: Budget Deal Doesn’t Cut Spending
“Rs & Ds have come together on a ‘historic’ budget deal that … [the] Washington Post’s lead story calls the cuts ‘sharp’ and ‘severe.’ However, the budget deal doesn’t cut federal spending at all. The ‘cuts’ in the deal are only cuts from the CBO ‘baseline,’ which is a Washington construct of ever-rising spending.” – Chris Edwards, Cato
The U.S. Budget Situation is Worse than Even You Imagined
Last week, Senator John Kerry (D.-Mass) was unhappy with a Republican plan to cut as much as $61 billion out of the federal budget. “I think it’s an ideological, extremist, reckless statement,” Kerry said of the plan. I hadn’t kept up on all the numbers recently, so I took a look at President Obama’s 2012 […]
“Don’t say the “the law will reduce costs and deficit.”
“Don’t say the “the law will reduce costs and deficit.” This is the last line on the final slide of a presentation given during a conference call organized by Families USA, a strong supporter of the health control legislation, HR 3590. Reports Ben Smith at Politico: Key White House allies are dramatically shifting their attempts […]
Health care “reform” barely reduces government deficit
Proponents of the health control legislation, HR 3590, claimed it would reduce the federal deficit. First of all, this desirable if government cuts spending. In any case, Veronique de Rugy at the Mercatus Center shows that the health care bill’s deficit reduction is tiny:
The above chart by Mercatus Center senior research fellow, Veronique de Rugy […]
Apologize Now for the Burden Future Generations Will Bear
First, you should apologize to your children.
The One Percent Solution: How to Start Reducing the National Debt
This Independence Institute Paper describes how the Republicans’ proposed 3% Solution and the Issue Paper’s proposed Citizen 1% Solution would provide an annual budget surplus to be used for reducing the public debt. The latter will balance the budget in 1998 and reduce today’s $4.7 trillion public debt back to 1981’s $1 trillion level by 2007.
