It’s pretty basic. Increase revenues and lower expenditures. Here’s more from NY Times: In his remarks, which come after Friday’s bipartisan deal to cut domestic spending by about $38 billion for the remainder of this budget year, Mr. Obama will not offer details but will set deficit-cutting goals, White House officials said. The numbers were […]
Archive for the 'Deficit' Category
For anyone interested in doing a deep dive into the state of the financial budget crisis facing the United States, you cannot do better than Mary Meeker’s recently released report “USA Inc.” Published under the auspices of venture capitalist Kleiner Perkins, it is detailed and comprehensive, yet clear, understandable and served up in digestible bites. It is well worth the time and effort.
President Obama is not going to get re-elected if he continues to treat American voters like they are complete idiots. He cannot tell us that a spending increase is really a spending cut, and that a massive new entitlement program will save money when it will actually cost money and expect to maintain any credibility.
He needs to outflank the Republicans on fiscal responsibility by supporting the bipartisan recommendations of the deficit commission he sponsored. If he puts the full weight of the Presidency behind the Simpson-Bowles Plan and pushes it to a floor debate, the American people would put their electoral weight behind him.
Same song. Different singers. Reuters interviewed Republican Buck McKeon, the new chairman of the House Armed Services committee. And guess what? From McKeon: We’re spending less than at times in the past and we’re involved in two wars, as a percentage of our gross product. So I think, myself, I think you have to be […]
Here ya go… Pretty straightforward. Dems aren’t going to win any economic ingenuity awards, but we’re out of the recession, private sector job growth is still holding on and we’ve got the shopping season coming up, which should drive even more. But what if the Republicans had their way? Well, let’s refer back to the […]