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Tag Archives: Deficit

Fuzzy Math

The National Memo did the math, so that you don’t have to (and because Romney won’t). Last night, Mitt Romney promised to eliminate our $1.3 trillion annual deficit without raising any taxes. How will he do this? First, reduce deductions for the wealthy. Well, that’s only $165 billion if you eliminate all deductions for the […]

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So much for trying to reduce the deficit

The House today overwhelmingly (336-87) passed a new defense spending bill, actually increasing military spending by $17 billion to $649 billion. Remember that we already spend more on our military than most of the rest of the world put together, and I sure as hell don’t feel like it is making us safer than those […]

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Obama Pledges to Not Extend Bush Tax Cuts Again

Barack Obama has promised that he will not extend the Bush Tax Cuts again, saying that any deal to raise the country’s debt ceiling would include revenue increases. Republicans insist that any deal will be restricted to spending cuts and entitlement reforms. A showdown appears inevitable. Let’s make sure Obama keeps his promise. In order […]

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Chicken

© Ed Stein As usual, Stein adds interesting commentary: The Republicans sure love drama, don’t they. First they threatened to shut the government down unless their demands were met. Now they’re swearing they won’t agree to raise the debt ceiling unless they get the deep cuts they want. Shutting down the government would have caused […]

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The Social Safety Levee

© Ed Stein The game of chicken over raising the debt limit continues, with Republicans (and some Democrats) vowing that any vote for it will have to be accompanied by deep budget cuts, and tax increases of any kind will not be considered. If Republicans have their way, there’s only one possible outcome. The social […]

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Texas Yacht Not

A few days ago I posted an article about how local politicians are claiming they have to give tax breaks to rich people or else the wealthy will move somewhere else — despite the fact that more than one study has shown that this is completely false. Well, here’s an even crazier example. The Texas […]

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Welfare for the Rich

Just go read Matt Taibbi’s new article “The Real Housewives of Wall Street“. Do it now. If you don’t read it, then you should lose your right to complain about any government spending. The article details how the Fed has given out more than a trillion dollars in welfare to the rich. Free money, but […]

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The Result of Gridlock?

Ironically, if Congress does absolutely nothing, it will mostly solve the deficit crisis. Mainly because Bush’s tax cuts will expire automatically at the end of next year.

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Language is a Virus

© Tom Tomorrow Exhibit A is Paul Ryan’s Republican Budget Proposal, which destroys Medicare as we know it, defunds organizations that tend to support Democrats, and increases the deficit by giving even more tax cuts to the wealthy.

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Political Theater

© Lee Judge Republicans are trying to defund any organization that tends to favor Democrats: labor unions (except those that support Republicans, like police unions), Planned Parenthood, NPR, teachers, the poor, etc.

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For This They Threatened to Shut Down the Government?

The latest showdown between Obama and the Republicans was over an extremely small amount of funding for Planned Parenthood. The Republicans couldn’t help turning it into a red meat issue, screaming that they didn’t want the government paying for abortions. This was, of course, complete and utter nonsense. The government is already prohibited from paying […]

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The Cost of the War in Iraq

We just passed the eighth anniversary of the start of the war in Iraq, and here is how much money we thrown down the drain on it: The Cost of the War in Iraq (JavaScript Error)

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Congress in Action

Five minutes after voting to cut off federal funding for NPR, the House of Representatives voted to continue funding the War in Afghanistan. How much will defunding NPR help reduce the deficit? Lemme see, according to the CBO, it will save, hmmm, absolutely nothing. How long did Congress spend debating a measly $5 million in […]

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Here are some things to cut from federal spending

So, if we really want to cut out unnecessary spending to reduce the deficit, here are a few no-brainers: Abstinence-only sex education. We have wasted more than $1.5 billion dollars on trying to convince teenagers to not have sex. Unsurprisingly, it hasn’t worked. In fact, since we started teaching abstinence instead of contraception, the downward […]

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Oiling their Palms

Back in 2008, the CEO of Shell Oil, John Hofmeister, testified in Congressional hearings that when oil and gasoline prices are high that big oil companies do not need the subsidies they get from the government. He also noted that executives of major oil companies agree. These federal subsidies were originally designed to encourage exploration […]

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