April 19, 2014 |
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"Naturally, the Democratic Senate, which hasn’t passed a budget since before the iPad, has done nothing. Nor has the president — until his Tuesday plea."
Why do the Tea Party people always say they defend the constitution? Spending and tax bills are suppose to originate in the House; the Senate can offer one, but it must be offered through the House. Who has been in charge of the House recently? Why not pass a bill to balance the budget? It's like the bus driver standing at the bus stop, wondering when his bus is going to leave. Read the constitution, then put forth your bill. Yes, it may be vetoed by the president, but maybe not. Or are you not willing to give up your own special pork which helps you get reelected? What a self righteous crock. People think the president makes all these decisions, like he is some kind of dictator. Republicans talk a good game, but they have become the do nothing party.
This whole debate is premised on the idea that the defense budget can't be cut. If it can (and most likely it should) be cut, then the sequestor is as good of a mechanism as any other. The Congress simply can't form a majority to agree to the cuts that need to be made. It's little different than the old military base closing commissions. If the cuts are allowed to happen, each Congressman can claim to have a clear conscience.
Is Krauthammer trying to take Bill Kristol's wrong every time award?
Speaking at Thursday’s National Prayer Breakfast, Dr. Benjamin Carson, a black pediatric neurosurgeon with Johns Hopkins Hospital, confronted the issue of Obama's debt and current fiscal policy. “And one of our big problems right now…our deficit is a big problem,” he said, as Obama watched him intently. ”Think about it — and our national debt — $16 and a half trillion dollars.” To illustrate just how massive the debt is, Carson told the audience that if they counted one number per second, it would take them 507,000 years to get to the sum total. From there, he moved on to taxation, seemingly taking a stance in direct opposition to Obama. Conservatives were applauding while Obama stared down like a scalded dog.
Big spender Obama is directly responsible for almost $7 trillion of our national debt. Hopeless change!
Next the gov't should get on with Medicare Single Payer Insurance offering to all of those who wish to sign up. This would be good for business and would create more new jobs in the health care industry.
The Guardian follows the philosophy of many. IF congress spends the money to create new industry,new jobs thus new wealth for the nations workers it will be smart spending.
IF congress relies on the big banks too much of OUR money will go up in smoke . The USA needs 15-20 million new jobs which means the gov't will need to step up and manage the spending as well.
As for higher education and vo-tech spending the gov't should bypass all the financial institutions and send money directly to students and/or educational institutions. WE taxpayers cannot afford white collar crooks managing our tax dollars.
The US Should Grow the Deficit, Not Shrink It
The US economy is too fragile to reduce spending and raise taxes. Fiscal austerity is a recipe for worse pain.
by Dean Baker
"There is an astounding level of confusion surrounding the current US deficit. There are three irrefutable facts about the deficits:
First, the United States has large deficits because the collapse of the housing bubble sank the economy.
Second, if we had smaller deficits the main result would slower growth and higher unemployment.
Third, large projected long-term deficits are the result of a broken health care system, not reckless government "entitlement" programs.
It (the deficit) wasn't because of a surge in reckless spending and/or a splurge of tax cuts, it exploded because tax collections plummeted when the economy went into a downturn. In addition, we increased spending on programs like unemployment insurance. We also had temporary stimulus measures that were explicitly intended to raise the deficit in order to boost the economy.
All of these changes were temporary. If the economy returned to its pre-recession level of unemployment tomorrow, deficits would again be quite manageable, even with no further budget cuts or tax increases.
This feeds directly into the second point: deficits are supporting the economy at present. Any steps that we take to reduce the deficit, either by cutting spending or raising taxes, would pull money out of the economy. This means slower growth and higher unemployment.
Finally, the long-term deficit horror stories that fill Washington parlor discussions are entirely the result of a health care system that now costs more than twice as much per person as the average for other wealthy countries. The ratio is projected to rise to three and four to one in the decades ahead.
Serious people talk about fixing the health care system, a process that may have already begun with Obamacare. Health care costs have increased far less than projected for the last five years. If this slower growth path continues, we will have no long-term deficit problem.
Austerity is a great recipe for pain today and even more pain tomorrow."
"that in the fiscal-cliff deal the president already got major tax hikes with no corresponding spending cuts. Now it is time for a nation $16 trillion in debt to cut spending. That’s balance."
Pretty well sums it up
I really have to wonder if CK even believes the stuff he writes.
The automatic cuts were an idea made necessary by the inability of Congress to work together on solving our problems, mostly by the obstructionist R.
They were structured so that neither side would like them.
It's odd to say that R should continue to obstruct and do nothing, since the large cuts in defense won't be to their liking, any more than cuts to social services/SS/Medicare would be for D.
And, if R have other ideas for spending cuts, they should propose them, not demand that the president do it instead. If they simply do nothing, and allow the cuts as planned, they'll take well deserved heat for it, just as D would if they did that.
Of course, if we didn't have a dysfunctional Congress to begin with, none of this nonsense would have happened, and it shouldn't have happened, in my view.
"Republicans finally have financial leverage"
Translation-- Republicans get their way, or they precipitate another recession.
Ain't extortion grand for those lacking enough in scruples to employ it?
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