Earlier this week, Congressman Ryan and Senator Murray put together a budget deal that should stave off another government shutdown for quite some time. It was passed by the House tonight and will likely go through the Senate tomorrow. Here are the details. The basic gist is that half of the sequester for 2014 is cancelled for a spending hike of $40 billion, mostly in military spending. A quarter of FY 2015′s sequester is … Read more
Tag Archive: Federal Budget
Grab onto something, folks. I’m going to agree with Mark Thiessen (H/T: Harley):
Quick: What do Republicans want in exchange for ending the government shutdown? If you know the answer, congratulations — because Republicans sure don’t.
we’ve gone from defunding Obamacare . . . to delaying Obamacare . . . to delaying parts of Obamacare . . . to funding the government piecemeal without touching Obamacare at all. If Republicans have already conceded the
The latest CBO report shows that the FY2013 deficit will come in at around $642 billion, a dramatic reduction. Naturally, the usual suspects are calling for more “stimulus” spending now that the deficit problem is “solved”. But they should read some critical points raised by Peter Suderman. The “small” deficit is a result of tax hikes, spending cuts and about $200 billion in one-time revenues (Fannie/Freddie dividends and tax adjustments). The “small” deficit will … Read more
Congress has passed a budget for the rest of the year that keeps the sequestration in place. Now all we need is a rise in the debt ceiling and FY2013′s budget is finished.
Obviously, I’d like some entitlement reform. But moving toward an actual budget process is a first step toward sane fiscal policy. Flat spending trends will bring the deficit at least under $1 trillion for the first time since Obama and possibly much … Read more
Ugh. Do I have to write about this again? Apparently.
Let’s be clear. Hitting the debt ceiling is a seriously stupid idea. The debt ceiling was never intended to be a debt control measure. It does not, in fact, limit the amount of debt we can run up, only the amount we can pay to creditors for things we’ve already authorized. Here’s Ezra Klein on what will happen if we crash the debt ceiling.
As Thrill noted, the so-called fiscal cliff was semi-averted last night. I didn’t pay too close attention to the debate since the basics of the deal had been hashed out days before. All we had last night was political theater. It’s true that 2/3 of the Republican House voted against it. But they allowed it to come to a vote and most voted after they were sure it would pass as an ass-covering maneuver. I’m … Read more
The Left wing anger at Paul Ryan continues to swell. You can amuse yourself with this latest bundle of idiocy from Maureen Dowd.
He’s the cutest package that cruelty ever came in. He has a winning air of sad cheerfulness. He’s affable, clean cut and really cut, with the Irish altar-boy widow’s peak and droopy, winsome blue eyes and unashamed sentimentality.
Who better to rain misery upon the heads of millions of Americans?
Is it … Read more
You know, I’m getting more and more sympathetic to this view:
Many observers and participants — including the entire GOP and Democratic leadership — are quick to cry gridlock and to blame inaction on some new awful hyper-partisan or ideological era.
But there isn’t gridlock, which usually results from Democrats and Republicans sharing power and clashing over alternative positions. Gridlock slows things down — almost always a good thing — but it doesn’t stop serious
Democrats and liberals are crowing because John Boeher’s budget proposal failed to pass the House when 40 Republicans backed out, wanting bigger spending cuts. Supposedly, this demonstrates how radical the GOP is and how Boeher has lost control.
Maybe. But consider this:
GOP lawmakers and aides – including Appropriations Chair Hal Rogers (R-Ky.) – blamed Democrats for defeating the bill. Democrats, including Appropriations Ranking Democrat Norm Dicks, said they’d support the bill, but reversed course