Yesterday, in a background briefing, the administration announced a three year spending freeze on portions of the budget. Since departments with the fastest growing government expenditures like Defense, VA, the State Department, and entitlements are excluded from the “freeze”, it will have a negligible effect on the ballooning deficit. One cannot help but wonder if the administration is trying to be all things to all people, and risks representing nothing to no one.
Archive for the 'Budget' Category
While Krugman is brimming with good tidings and bubbling over with holiday cheer, from the other side of the political spectrum Peter Schiff is offering a dour double dose of “Bah Humbug.”
First we heard about $100 million in cuts and now add another $17 billion to that total. The drops in the bucket are getting bigger. From Miami Herald: WASHINGTON — President Barack Obama plans to unveil Thursday a fiscal 2010 budget full of details on his plans to save as much as $17 billion by [...]
Barack Obama ran for president on a long list of program proposals, many of which addressed issues neglected (or perceived by liberals to be neglected) by George W. Bush. But with the financial turmoil and projected record deficits, will Obama have to scale back or abandon many of his planned initiatives? Hereâ€™s the problem with [...]
Â Thanks to the powerful stand taken by two Democrats, Evan Bayh, a centrist after my own heart, and Russ Feingold, a staunch, principled liberal, both of whom will vote against the $410-billion spending bill as long as it contains 9,000 earmarks, the Senate leadership came up one vote short on moving the bill forward. [...]