Archive for the 'Fiscal Responsibility' Category

Center on Budget and Policy Priorities still blaming Bush tax cuts for deficit even though they expired.

By mw | Related entries in Budget, Bush, Debt, Deficit, Divided Government, Fiscal Responsibility, Obama

The Center on Budget and Policy Priorities are still calling the tax cuts and war expenses a “Bush Legacy” and attributing most of our current and future debt and deficit to GWB. They are simply not acknowledging the facts. The argument itself and the dubious premise are exactly the same as when first presented three years ago. What has changed are the facts about who is the author and owner of the policies they are tracking. And by ignoring these facts, the CBPP has moved from a dubious, “disingenuous” argument to outright misrepresentation and falsehood.

March 3rd, 2013 | Permalink| 8 Comments »

The sequester is not the problem. The sequester is [part of] the solution.

By mw | Related entries in Bad Decisions, Bipartisan, Budget, Congress, Debt, Deficit, Fiscal Responsibility, Obama

The “sequester” is not a crisis. The “sequester” is not the problem. The real problem is the massive growth in federal spending creating unsustainable deficits and debt that will be shouldered by generations to come. The “sequester” is a solution to a real problem facing America. That said, the “sequester” is not a great solution.The sequester cuts are not a smart way to address the spending problem. The sequester cuts are not adequate to solve the spending and unfunded liability disaster that looms in our entitlement programs. But the odds of getting anything smart out of this administration or this congress that makes even as little impact as do the sequester cuts are vanishingly small. Since it’s a bad bet to rely on our leaders for smart significant cuts, let us at least bank the cuts they already passed.

February 19th, 2013 | Permalink| 26 Comments »

It’s unsustainable, stupid.

By mw | Related entries in Debt, Deficit, Divided Government, europe, Fiscal Responsibility, Health Care, Obama, Romney

In the 1992 presidential campaign, James Carville’s motivational meme “It’s the economy, stupid.” perfectly encapsulated the key issue of the election. In 2012 “It’s unsustainable, tuip”. You may not like the Romney/Ryan plans for dealing with our unsustainable spending, debt and entitlements, but at least it is a substantive plan and they are willing to talk about it during this campaign. If the Democrats and the Obama administration have a sustainable fiscal plan for the United States government I don’t know what it is, and they sure seem reluctant to talk about putting anything meaningful on the table. The easiest thing for the President to do would be to embrace the Simpson-Bowles plan. It was his commission. It was his idea. If the 2012 presidential election comes down to a choice between a candidate with a serious plan to get us out of this morass vs. a candidate that appears to ignore it – the man with the plan wins.

August 22nd, 2012 | Permalink| 8 Comments »

SPOILER ALERT! How the debt ceiling “crisis” ends.

By mw | Related entries in Boehner, Budget, Debt, Deficit, Divided Government, Fiscal Responsibility, Obama

The compromise will include some formula for revenue increases, (probably in the form eliminating deductions while reducing rates), it will include cuts to the military, and it will include deep meaningful and substantial cuts in spending in the overall budget. And the compromise will be agreed on the brink of default to no one’s satisfaction. In the meantime, we have six weeks of Kabuki theater to enjoy while the eventual compromise is hammered out. Both tribes will have ample opportunity to point at the feckless hypocrisy of the other. Enjoy the show.

July 27th, 2011 | Permalink| 27 Comments »

Read ‘em and weep. USA “all in” with a busted flush.

By mw | Related entries in Budget, Deficit, Fiscal Responsibility

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.

March 5th, 2011 | Permalink| 2 Comments »

Taiwan explains Wisconsin

By mw | Related entries in Democrats, Fiscal Responsibility, Media, Partisan Nonsense, Republicans, Wisconsin

Taiwanese animations are the future of all mainstream news. The folks at NextMedia have distilled US TV news, newspaper commentary, blogs, and twitter feeds on the Wisconsin standoff into an easily digestible two minute animation. As far as the legislative standoff is concerned, this is a foregone conclusion. Polls do not support the AWOL Wisconsin Senators. The Wisconsin State Assembly passed the Walker Budget Repair Bill after beating back a filibuster and the Senators will have to return sometime or be recalled. The protesters in Madison will have to go back to work or be fired. The Republicans have the votes and Walker has the will. Done deal. I think it is all Kabuki Theater in Wisconsin from this point.

February 25th, 2011 | Permalink| 7 Comments »

Elections have consequences – #1 in a series – The F-35 alternate engine

By mw | Related entries in Bipartisan, Budget, Fiscal Responsibility, Good Decisions, I Told You So, tea party

Last week, in the Republican controlled House of Representatives, with Republican Speaker of the House John Boehner supporting the continued funding of the unneeded engine, it was finally defeated. Credit to President Obama, Defense Secretary Robert Gates for reaching out to Republican legislators and the new crop of Tea Party supported freshman Republican representatives who stood up to their own leadership.

February 18th, 2011 | Permalink| 6 Comments »

Budget Bolero

By mw | Related entries in Barack, Budget, Deficit, Fiscal Responsibility, health care reform, Obama

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.

February 17th, 2011 | Permalink| 11 Comments »

After failing test in midterms, Prez takes the ‘professional left’ to school.

By mw | Related entries in Barack, Budget, Economy, Fiscal Responsibility, Obama

President Obama and his political brain trust were diligently taking notes while getting schooled in the midterms. On Monday President Obama announced a federal employee pay freeze for non-military employees. On Tuesday he met with congressional leadership and assured the American people that he heard the voice of the voters.

December 1st, 2010 | Permalink| 16 Comments »

Carving the Currency

By mw | Related entries in Bad Decisions, Ben Bernanke, Economy, Federal Reserve, Fiscal Responsibility, geithner, Money

Observing the carving of our currency, as it is sliced by administration fiscal policy and diced by Fed monetary policy.

November 26th, 2010 | Permalink| 16 Comments »