Posts Tagged ‘ government spending ’

Shutdown theater (off-off Broadway follies)

December 15, 2014
posted by

Thomas L. Knapp Center for a Stateless Society
by Thomas L. Knapp  

"It’s surprising what passes for high political drama these days. After a DC dust-up similar to, but neither as exciting as watching paint dry nor as convincing as professional wrestling, the US House of Representatives passed a $1.1 trillion 'Cromnibus' bill to fund the federal government through September 2015, passing it on to the US Senate, which most expect it (as I write this) to pass as well. Why does the whole thing fail as theater? Two reasons: First, it lacks the true conflict essential to a good yarn. ... Secondly, the stakes are too low." (12/12/14)

http://c4ss.org/content/34098  

No Comments »

Shutdown theater: US House narrowly passes spending bill

December 12, 2014
posted by

Chicago Tribune    

"The House of Representatives averted a government shutdown [sic] on Thursday, narrowly passing a $1.1 trillion spending bill despite strenuous Democratic objections to controversial financial provisions. The vote followed a long day of drama and discord on Capitol Hill that highlighted fraying Democratic unity and featured an uneasy alliance between President Barack Obama and House Speaker John Boehner, enemies in past budget battles but on the same side this time in pushing for passage." (12/12/14)

http://tinyurl.com/qc69t2z  

No Comments »

DC: Politicians reach “deal” to steal/borrow and spend $1.1 trillion

December 10, 2014
posted by

The Washington Post Washington Post    

"Congressional leaders have reached agreement on a massive $1.1 trillion spending agreement that will keep most of the federal government funded through next September. Months of protracted negotiations between Democratic and Republican leaders concluded on Tuesday night, with passage expected in the coming days, according to top aides. Final details of the bill were still being sorted out and leaders were still mulling whether to approve a stopgap bill to give lawmakers a few more days to pass the final bill and avoid a government shutdown.

http://tinyurl.com/lchh8tu  

No Comments »

Is it “game over” for Ukraine?

December 9, 2014
posted by

Richard W. Rahn Cato Institute
by Richard W. Rahn  

"Ukraine will likely go bankrupt within the next few months. This past Friday, it was reported that the country has less than $10 billion in foreign-currency reserves. My sources (who have been spot on the Russian/Ukrainian situation over the last couple of years) tell me the situation is actually worse than the official reports in that Ukraine is now losing foreign reserves at a rate of $3 billion a month and that rate is accelerating. Even worse, some of the reserves may be 'illiquid' -- which likely means they have already been spent or even stolen." (12/08/14)

http://www.cato.org/publications/commentary/it-game-over-ukraine  

No Comments »

US House rebukes Obama over immigration actions; spending fight looms

December 4, 2014
posted by

Fox News Fox News    

"House Republicans voted Thursday to block President Obama's immigration executive actions, though it was unclear whether the largely symbolic step would be enough to prevent a risky budget stand-off next week. The House voted 219-197 for the bill, by Rep. Ted Yoho, R-Fla., that declares Obama's actions 'null and void and without legal effect.'" (12/04/14)

http://tinyurl.com/o9plakp  

No Comments »

The CR charade

October 2, 2014
posted by

Michael D. Tanner Cato Institute
by Michael D. Tanner  

"The Congressional Budget Act of 1974 requires Congress to act on appropriation bills by June 30 of each year, although there is no enforcement mechanism if that deadline is missed. More realistically, then, Congress is supposed to act before the start of the new fiscal year, October 1. Yet Congress has not passed all twelve appropriation bills since 1994. This year, in fact, Congress passed exactly none." (10/01/14)

http://www.cato.org/publications/commentary/cr-charade  

No Comments »

Zombie spending

September 25, 2014
posted by

Michael D. Tanner Cato Institute
by Michael D. Tanner  

"Aficionados of horror movies know that the monster is never really dead when you think it is. It may be down, but it will inevitably climb back from the dead at least one more time before the final credits. So it is with government programs. No matter how outdated, useless, wasteful, or redundant programs may be, they come as close to immortality as possible." (09/24/14)

http://www.cato.org/publications/commentary/zombie-spending  

No Comments »

Tax reform is useless without spending reform

May 21, 2014
posted by

Ron Paul Campaign for Liberty
by Ron Paul  

"Recently, Republican leaders in Congress unveiled a 'tax reform' plan that they claimed would provide the American people with a simpler, fairer, and more efficient tax system. While this plan does lower some tax rates and contains some other changes that may make next April a little less painful for Americans, there is little in it to excite supporters of liberty." (05/19/14)

http://tinyurl.com/occ5lj5  

No Comments »

Greece: Samaras says regime won’t seek more bailout money

May 6, 2014
posted by

New Orleans Times-Picayune    

"Greece's prime minister says the debt-strapped country will not ask for any additional bailout money and hopes to begin abolishing austerity taxes later this year. In an interview with private Antenna television, Antonis Samaras said Tuesday that Greece would not seek additional support beyond the 240 billion euros ($335 billion) already granted in bailout packages from other euro zone countries and the International Monetary Fund." (05/06/14)

http://tinyurl.com/m3ns7d2  

No Comments »

Tax collectors for the warfare state

April 21, 2014
posted by

Reason Reason
by Jon Basil Utley  

"Ryan’s fantasy budget, passed by a large majority of those once cost-cutting House Republicans, is based upon the falsehood that he can commit future congresses to cut $3 trillion (over 10 years) from Obamacare and make changes to Medicare. Ryan was a big Iraq war fan, and he now supports the John McCain/Lindsay Graham war hawk wing of the party. He would increase military spending by some $50 billion per year starting in 2015, eliminating the savings of the defense sequestration plan passed last year by congress." (04/19/14)

http://tinyurl.com/mmplnyg  

No Comments »

Obama’s new budget will hamper energy job creation

April 10, 2014
posted by

Hawaii Reporter
by Jack Gerard  

"President Obama just unveiled his FY2015 budget proposal. His plan includes hefty new taxes on job creators. Much of this burden will fall on the energy industry, which has proven to be a particularly powerful engine of new employment in recent years. Indeed, the oil and natural gas sector now supports 9.8 million jobs. Yet the Obama budget slaps it with $100 billion in new taxes over the next decade -- that's about 10 percent of all of the new tax revenue his package would generate." (04/09/14)

http://tinyurl.com/q2dlnhm  

No Comments »

I agree with Sarah Palin

April 4, 2014
posted by

Thomas L. Knapp KN@PPSTER
by Thomas L. Knapp  

"Ryan's budget proposal increases spending for the next two years. Then, based on rosy revenue projections and the silly notion that subsequent congresses will consider themselves bound by Paul Ryan's plan (when in fact he won't even consider himself bound by it if he's still in Congress three years from now), it supposedly takes eight more years to [balance the budget]. Sound familiar? It's the thing the Republicans offer up every year." (04/03/14)

http://knappster.blogspot.com/2014/04/i-agree-with-sarah-palin.html  

No Comments »

Ryan unveils plan to balance federal budget — 10 years from now

April 1, 2014
posted by

Fox News    

"House Budget Committee Chairman Paul Ryan renewed a fight with Democrats over spending cuts and deficit reduction, unveiling an updated Republican budget plan Tuesday that aims to cut spending by more than $5 trillion over a decade and balance the budget in that time. Similar to past proposals, Ryan's plan would include cuts to food stamps and major changes to government-sponsored health care for the poor and working class." [editor's note: "Conservatives" used to rail against Soviet-style 5 Year Plans. I always thought that was because they opposed central planning and considered such plans unrealistic. Turns out they just thought five years was too short of a term within which to exercise any fiscal responsibility - TLK] (04/01/14)

http://tinyurl.com/ns8nn9a  

No Comments »

Why no more talk about the debt ceiling?

March 17, 2014
posted by

Bumper Hornberger Future of Freedom Foundation
by Jacob G. Hornberger  

"Have you noticed that there’s no more talk about the debt ceiling? That’s because those congressional big spenders recently raised the debt ceiling to permit the feds to continue adding onto the mountain of federal debt that they’re piling on the backs of the American people for decades. Once the debt ceiling is lifted, all the talk about it goes away until the next time it’s reached, at which point the big spenders have a conniption fit over the possibility that it won’t be lifted again. But isn’t this the time when Congress should be reining in federal spending in anticipation of reaching the debt limit again in a year or so?" (03/14/14)

http://fff.org/2014/03/14/why-no-more-talk-about-the-debt-ceiling/  

No Comments »

Why don’t America’s politicians balance their checkbook?

February 14, 2014
posted by

Thomas L. Knapp Center for a Stateless Society
by Thomas L. Knapp  

"Because they don’t believe they have to. After all, they've been getting away with overtly stealing double-digit percentages of your work and wealth, and borrowing similar amounts from lenders (who expect them to keep stealing that much and more to make payments) for decades, without apparent penalty. And just like all freeloaders and junkies, they've convinced themselves that the party never has to end, that they can just keep on keeping on and wheedle or beat ever more money out of us as needed. Heck, they've even written a 'no crushing our buzz' clause into the US Constitution ..." (02/13/14)

http://c4ss.org/content/24565  

No Comments »

Congress must wake up soon to out-of-control spending

February 14, 2014
posted by

Heartland Institute Heartland Institute
by Nancy Thorner  

"Is it really necessary to borrow more money to pay our nation's debt obligations? The United States collects more than enough tax revenue each and every day to easily satisfy the repayment of our debt. Without a limit increase on the use of the nation's credit cards, our government officials would actually have to prioritize debt repayment and make modest cuts to out-of-control government spending now, instead of pretending that cuts are in the offing somewhere down the road. The interest on the debt is around $30 billion per month and the Feds are taking in $250 billion. The only reason the U.S. would default is if Obama and Jack Lew, Secretary of the Treasury, refused to service the debt." (02/13/14)

http://tinyurl.com/kzz6dcl  

No Comments »

Evaluating Social Security reforms in the age of budget deficits

February 3, 2014
posted by

National Center for Policy Analysis
by Liqun Liu, Andrew J. Rettenmaier and Thomas R. Saving  

"Congress is once again considering changes in Social Security in an attempt to 'save' the program. Social Security benefit payments have exceeded tax revenues since 2010; the funding deficit is growing and, barring reform, will continue to grow indefinitely. Higher tax revenues are necessary to fund benefits as they are currently calculated." [abstract -- full article available as PDF download] (02/03/14)

http://tinyurl.com/m4vakyk  

No Comments »

Warfare, welfare and Wonder Woman — how Congress spends your money

January 21, 2014
posted by

Ron Paul Campaign For Liberty
by Ron Paul  

"Supporters of warfare, welfare, and Wonder Woman cheered last week as Congress passed a one trillion dollar 'omnibus' appropriation bill. This legislation funds the operations of government for the remainder of the fiscal year. Wonder Woman fans can cheer that buried in the bill was a $10,000 grant for a theater program to explore the comic book heroine. That is just one of the many outrageous projects buried in this 1,582 page bill." (01/20/14)

http://www.campaignforliberty.org/national-blog/24407/  

No Comments »

US Senate poised to move forward with deal to return to even more idiotic levels of over-spending

December 17, 2013
posted by

CBS News    

"The Senate appears poised to clear a key procedural hurdle Tuesday that will pave the way for passage of a budget deal brokered by Rep. Paul Ryan, R-Wis., and Sen. Patty Murray, D-Wash., and send the legislation to the president’s desk. The House passed the agreement last week, which sets spending levels for the next two years and replaces $63 billion in cuts mandated by the sequester with other spending cuts. It will avert the threat of a government shutdown in mid-January, when the temporary spending bill passed by Congress in October runs out." (12/17/13)

http://tinyurl.com/kh3e57z  

No Comments »

US House approves deal to return to even more criminally insane spending levels

December 13, 2013
posted by

CNN    

"A compromise federal budget plan that would remove the threat of a government shutdown for two years won easy approval Thursday from the Republican-controlled U.S. House. The deal worked out by House Budget Chairman Rep. Paul Ryan and Senate Budget Committee Chairwoman Patty Murray passed on a 332-94 vote and now goes to the Democratic-led Senate, which is expected to approve it next week in a very close vote." (12/12/13)

http://www.cnn.com/2013/12/12/politics/congress-budget/  

No Comments »

Debt ceiling crises: Imagined and real

October 11, 2013
posted by

Foundation for Economic Education Foundation for Economic Education
by DW MacKenzie  

"The government shutdown and impending debt ceiling 'deadline' have led to near panic over possible default on the national debt. This imagined 'default crisis' is a canard used for demagogic fearmongering. That said, the long-term federal financial issues are all too serious." (10/10/13)

http://tinyurl.com/mctskre  

No Comments »

Don’t lift the debt ceiling

October 11, 2013
posted by

Bumper Hornberger Future of Freedom Foundation
by Jacob G. Hornberger  

"Why is there even a debt ceiling? The reason is simple: Because even the members of Congress, who are the biggest spenders in the world, understand that too much government debt is a bad thing. That’s the message conveyed by the ceiling: It says that this is the maximum amount of debt that the government is permitted to accumulate. Once that amount of debt is accumulated, no more debt can be incurred." (10/10/13)

http://fff.org/2013/10/10/dont-lift-the-debt-ceiling/  

No Comments »

Two obvious facts on the debt ceiling showdown

October 10, 2013
posted by

Robert P. Murphy Free Advice
by Robert P. Murphy  

"Refusing to raise the debt ceiling is equivalent to insisting on a balanced budget. Any Republican politician who has (a) championed a balanced budget amendment but lamented the difficult road ahead while (b) voted to raise the debt ceiling, is obviously insincere (or doesn’t understand accounting). Either way, genuine fiscal conservatives cannot take such a person seriously anymore." (10/09/13)

http://tinyurl.com/otewq6l  

No Comments »

It’s not a “default”

October 10, 2013
posted by

WendyMcElroy.com
by Brad  

"Here is a simple parallel, which I would hope most news anchors and perhaps a few politicians are able to comprehend. You have a credit card with, say, a $5000 credit limit. You've been making payments every month, but you have also been charging more every month than you have been paying off. So, your balance on the card has been rising. You have now reached your credit limit. Your options are now: a) Ask the bank for a higher credit limit; or b) Reduce your credit card spending to the amount you're paying off each month (or less). Option (b) is not a default." (10/09/13)

http://www.wendymcelroy.com/news.php?item.5582.2  

No Comments »

More on debt limit and default

October 10, 2013
posted by

David Friedman Ideas
by David Friedman  

"A President cannot spend money he does not have; whatever the requirements, if the debt limit prevents borrowing he will have to reduce expenditure to revenue. Further, the author concedes that the only legal opinion on the subject, from the Government Accounting Office some time back, is that the President can indeed prioritize debt. And, finally, Congress is always free to change its mind about what it authorizes. The Republican majority in the House would gladly pass a bill prioritizing interest payments, so unless the President and his party want to default there is no need to do so." (10/09/13)

http://tinyurl.com/ln9rj8d  

No Comments »

Our Sponsors





Making a living off your Drupal site?

Drupal Managed Hosting

Fed up with Maintenance and Hosting companies?