Tag Archive: Deficit

The Right Wing Meltdown: Knock It Off

It’s been downright painful watching conservatives come to grips with the reality that Obama was re-elected. A couple of my favorite sites are about ready to go all Jonestown about it and I haven’t bothered to give them more than a cursory glance for the past week.

Everywhere it’s “Why, why, why?” and “We have to change everything we believe!” and “We just had bad luck, it means nothing, nothing I tell you!” and even … Read more

The President Punks Us … Again

Here’s the thing: the President’s budget proposal is effectively DOA. Even if the Republicans didn’t control the House, his Senate has refused to propose a budget in three years. So there is no chance today’s proposal will come anywhere close to passing.

Given that, why doesn’t he propose something bold? Why does’t he put out Simpson-Bowles? Why doesn’t he say, “Hey, you want the budget balanced? Here’s what it’s going to take.” and put out … Read more

Consensus! The debate is over…

Well, not really but that’s how they operate on the left, so I wonder how they will react to this revelation:

The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts.

The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and

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The Canadian Model

To circle back to the most pressing topic of the day: S&P may be nitwits but their downgrade of our debt was utterly correct. We have not made any real inroads on our staggering debt load, the hysterics over the debt ceiling not withstanding. Until we address entitlements, we’re not serious. The S&P downgrade is not some esoteric financialspeak that has no relevance to us. It’s the canary in the coal mine: the warning that … Read more

Today’s Awful No-Good Job Numbers

Ouch:

The job market hit a major roadblock last month, as hiring slowed to a crawl and the unemployment rate unexpectedly rose.

The economy gained just 18,000 jobs in the month, the government reported Friday, sharply missing most expectations and coming in even weaker than the paltry 25,000 jobs added in May.
It marked the weakest month since September, when the economy was still losing jobs.

Unemployment is up to 9.2%.

Everyone is trying … Read more

Social Security system is in deep trouble

As our political class is locked in a fight about government, with one group begging for cuts while the other refuses to let go of the idea that the problem is government isn’t taking enough money already from people, to tackle our out of control spending, one of the items I am afraid isn’t being discussed is the need for serious and massive SS reform. Social Security is in real bad shape. How bad? Well … Read more

A Deal In the Making?

Ugh. What a day today. Not much time to blog. I’m cooking up a post for the weekend, but I’ll pre-season it with Ezra Klein’s wonkbook from this morning:

The Biden group is readying itself for the final sprint towards a debt deal. “Now we’re getting down to the real hard stuff,” Biden told reporters. “I’ll trade you my bicycle for your golf clubs.” The hope is to get to $4 trillion in deficit reduction

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Here comes a recession, UNEXPECTEDLY!

Reading this CNBC article about the current plunge in economic data, you get the impression, yet again, that these “experts” in the MSM are constantly baffled by the continued negative economic news that keeps coming because they, after all the evidence to the contrary, still think that the destructive borrow-or-print & spend policies of the last 2 or 3 years from the anti-business Keynesian jackasses in charge, somehow should be working.

The last month

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Disheartening study

RealClearPolitics has a very interesting, albeit disappointing to me, article about politicians, the public, the debt crisis, and how the participants of this study feel it needs to be solved. As usual, what we have here is a debate between what the left thinks the public wants and what the right does, as the article starts off discussing. What’s obvious to me from the study that the article is based on is the fact … Read more