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Tag: Spending Cuts

David Cay Johnston: Budget Deal ‘Makes Absolutely No Sense’

A House-approved bipartisan budget deal will be considered by the Senate this week. The Pulitzer Prize-winning investigative reporter tells “Democracy Now!” how it replaces across-the-board spending cuts with airline fees and reductions in federal pensions while failing to extend unemployment benefits, which expire this month, to 1.3 million people.

Posted on Dec 16, 2013 READ MORE



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Krugman Exposes the Hypocrisy of Fiscal Conservatives

In his latest column for The New York Times, the Nobel Prize-winning economists notes that before President Obama took office in 2009, seven of the 10 previous presidents left the Oval Office with debt ratios lower than when they entered it. The three who did not: Ronald Reagan, George H.W. Bush and George W. Bush.

Posted on May 6, 2013 READ MORE


The Hollowing Out of Government

The West, Texas, chemical and fertilizer plant where at least 15 people were killed and more than 200 injured a few weeks ago hadn’t been fully inspected by the Occupational Safety and Health Administration since 1985.

Posted on May 5, 2013 READ MORE



AP/J. Scott Applewhite

Obama to Formally Propose Social Security Cuts

In the name of compromise, bipartisanship and the satisfaction of a ruling class that is indifferent to the suffering of ordinary Americans, President Obama is ready to sell parts of Social Security and Medicare in his attempt to strike an annual budget that satisfies Republicans and reduces the long-term deficit by $1.8 trillion over 10 years, administration officials say.

Posted on Apr 5, 2013 READ MORE



Flickr/Seuss

The Sequester and the Tea Party Plot

Sequestration is only the start. What the tea party set out to do was not simply change Washington but eviscerate the U.S. government—“drown it in the bathtub,” in the words of their guru Grover Norquist.

Posted on Mar 3, 2013 READ MORE


Threat to Economy

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Posted on Jan 7, 2013 READ MORE



Democracy Now!

A ‘Manufactured Non-Solution’ to a ‘Manufactured’ Crisis (Video)

Phony-baloney tax cuts, a delay in spending reductions, an increase in the deficit and lots more work to be done—Heidi Moore at The Guardian details the fiscal cliff solution that isn’t.

Posted on Jan 2, 2013 READ MORE



reid.senate.gov

Fiscal Cliff Talks Going Down to the Wire

Forget the Times Square ball drop in New York City. The most dramatic moment of New Year’s Eve 2012 will most likely happen on Capitol Hill.

Posted on Dec 30, 2012 READ MORE


Economist Baker Echoes Paul Krugman: There Is No Fiscal Cliff

As President Obama promises to bargain away changes to spending and social programs in exchange for income tax increases in the top two brackets, leading economist Dean Baker criticizes the so-called fiscal cliff threat as a myth.

Posted on Dec 14, 2012 READ MORE


The Next Game of Economic Chicken: Taxing the Rich

The game of chicken isn’t about how much or when we cut the budget deficit. Or even whether the upcoming “fiscal cliff” poses a danger to the economy.

Posted on Nov 10, 2012 READ MORE



counsellor (CC-BY)

Krugman: Austerity Still Doesn’t Work

Is anyone in the Obama administration listening to Paul Krugman? Maybe, says the Nobel Prize-winning economist, but only at the end of a year in which political insistence on the need to reduce short-term deficits with spending cuts slid the economy and much of the American public further into ruin.

Posted on Dec 31, 2011 READ MORE



AP / J. David Ake

Boehner Bad-Mouths Any Talk of Tax Hikes

House Speaker John Boehner said Thursday that the “super committee” on debt reduction should not be considering any sort of tax increases as it attempts to slash the federal deficit by $1.2 trillion. (more)

Posted on Sep 15, 2011 READ MORE



Wikimedia Commons

Financial Contagion and Other Ills

Governments on both sides of the Atlantic are making the same blind, stupid, ideological error: trying to rescue faltering economies with spending cuts. It doesn’t work, as John Maynard Keynes explained decades ago. (more)

Posted on Aug 7, 2011 READ MORE


Spending Cuts Hurt

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Posted on Jul 11, 2011 READ MORE



woodleywonderworks (CC-BY)

The Economy Is Bad Enough

With the nation struggling to recover from a devastating recession, unemployment stuck at crisis levels, financial markets spooked by the possibility of European defaults and consumers disinclined to consume, it makes no earthly sense to suck money out of the economy.

Posted on Jun 27, 2011 READ MORE


For Want of a Compromise

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Posted on Jun 27, 2011 READ MORE


Bambi v. Godzilla

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Posted on Jun 19, 2011 READ MORE


The Policy Bracket

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Posted on Mar 19, 2011 READ MORE


Krugman
Wikimedia Commons / Prolineserver

Krugman: Kids Will Pay the Price for Spending Cuts

According to New York Times econo-whiz Paul Krugman, all this emphasis on austerity will not be good for posterity. In his latest column, Krugman slams the GOP for claiming to be all about the kids while stacking the deck against them with “draconian” budget cuts.

Posted on Feb 28, 2011 READ MORE


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