Tag Archives: Deficit

Out of Control Spending

Actually, the federal government had a significant budget surplus during the month of April; the largest since 2008. WASHINGTON (MarketWatch) — The federal government had a budget surplus of $114 billion in April, the Congressional Budget Office estimated Wednesday. That … Continue reading
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Posted in Economy | Tagged , , | 8 Comments

Deficit Falls for a Fifth Year in a Row

According to the Congressional Budget Office, the federal budget deficit for 2014 will be nearly $200 billion less than 2013, falling from $680 billion to $492 billion thanks in part to record tax revenue. via Bloomberg “This will be the … Continue reading
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Posted in Open Thread, Taxes | Tagged , , | 4 Comments

Out of Control Spending

According to the Congressional Budget Office the federal budget deficit will fall to it’s lowest level as a share of the economy since 2007 during this fiscal year. AP WASHINGTON (AP) — A new report released Tuesday says the government’s … Continue reading
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Posted in Economy | Tagged , , | 4 Comments

Out of Control Spending!

The federal budget deficit for fiscal 2013 was less than half of what it was before President Obama took office. via Bloomberg Spending exceeded receipts by $680.3 billion in the 12 months ended Sept. 30, the narrowest gap since 2008, … Continue reading
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Posted in Economy | Tagged , | 9 Comments

No Grand Bargain

So says Senate Majority Leader Harry Reid. via The Hill “We are not going to have a grand bargain in the near future,” he said. Instead, he suggested negotiators should focus on a replacement for sequestration and forget “happy talk” … Continue reading
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Posted in Congress, Economy, Harry Reid | Tagged , | 3 Comments

Why Isn’t the GOP Complaining About the Deficit? Because It’s Dropping — Fast.

My Wednesday column: As we careen headlong toward the debt ceiling deadline, with the House Republicans and Speaker John Boehner in full Three-Stooges-Trying-To-Fix-The-Plumbing mode, the issue area that’s been overshadowed by the grandstanding, political props and brinksmanship is government spending … Continue reading
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Posted in Government Shutdown | Tagged , , , | Leave a comment

In Which I Explain the Debt Ceiling and Financial Apocalypse to Rand Paul and Sarah Palin

My Wednesday column: The Republican misinformation geyser continues to erupt unabated. Today, let’s focus on a pair of statements from tea party champions Sarah Palin and Sen. Rand Paul (R-KY) who seem to completely misunderstand the deficit, the debt ceiling, … Continue reading
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Posted in Government Shutdown, Rand Paul, Sarah Palin, The Daily Banter | Tagged , , | Leave a comment

Then vs. Now

That’s right. You’re either with the Cowboys or you’re against ‘em. Artist – Jen Sorensen In other news, the U.S. deficit is down 35 percent from this time last year, falling to $755 billion in Fiscal 2013 which will end … Continue reading
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Posted in Koch Brothers, Open Thread, Sports, Syria | Tagged , , | 27 Comments

Meanwhile, John Boehner Debuts Ransom Demands

USA Today published a column written by John Boehner yesterday wherein he calls for spending cuts in exchange for raising the debt ceiling, and he left a few things out. The Congressional Budget Office tells us that the federal government … Continue reading
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Posted in Congress | Tagged , , | 7 Comments

The Senators Who Filibustered the President’s Infrastructure Bill

Regarding that bridge collapse in Mount Vernon, Washington, here are the names of the senators who filibustered the president’s infrastructure bill via Bill Scher: Sen. Sessions (R-Ala.) Sen. Shelby (R-Ala.) Sen. Murkowski (R-Alaska) Sen. Lieberman (I-Conn.) Sen. Chambliss (R-Ga.) Sen. … Continue reading
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Posted in Economy | Tagged , , | 7 Comments

Kill It With Fire

Based on the latest findings from the Congressional Budget Office, the president’s latest budget proposal may signal an end to the “balanced approach” he has advocated for the past several years as it relies primarily on new taxes to reduce … Continue reading
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Posted in Economy, President Obama | Tagged , , , | 4 Comments

How About More Spending or Another Stimulus?

Dare to dream, but look — the president will have cut the deficit in half within his first four fiscal years, from $1.4 trillion in 2009 to $642 billion by the end of this year. That’s far lower than $845 … Continue reading
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Posted in Economy | Tagged , | 3 Comments

Out of Control Spending!

According to the Congressional Budget Office (CBO) the federal deficit is shrinking faster than anyone anticipated is now 24 percent lower than previous projections. If the current laws that govern federal taxes and spending do not change, the budget deficit … Continue reading
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Posted in Economy | Tagged , , | 5 Comments

Possible Budget Surplus by 2015

Interesting: …official forecasters will have to radically alter their projections this summer. The CBO forecast of $845 billion in red ink this year, 5.3% of GDP, is hopelessly outdated; the deficit will fall well below 5% of GDP, perhaps to … Continue reading
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Posted in Economy | Tagged , | 1 Comment

Stop the Austerity. The Deficit Is Dropping Precipitously.

Via David Frum, here’s AEI’s John Makin with the positive news: The United States has actually made substantial progress toward deficit reduction in 2013 … On January 2, as part of an agreement to avert the sharpest austerity that would … Continue reading
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Posted in Economy | Tagged , | 1 Comment

The President’s Social Security Plan is a Really, Really Bad Idea

My Monday column and the worst idea the president’s had in a long time: Late last week, President Obama successfully incited new levels of fury from most of the same liberals who are generally infuriated with him in the first … Continue reading
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Posted in President Obama, Social Security, The Daily Banter | Tagged , , | 29 Comments

The Path to Poverty is Back

Congressman Paul Ryan claims that we’re “not going to refight the past,” but that’s clearly what he has in mind as he proposes his most comical budget yet. It has it all – tax cuts for the rich, repealing the … Continue reading
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Posted in Epic Fail | Tagged , , , , , , | 3 Comments

‘Cutting the Deficit in Half’

Jed Lewison called attention to a tweet from the RNC demanding to know, “Whatever happened to cutting the deficit in half by end of first term?” They’re not very good at math at the RNC. Here’s some help: So as … Continue reading
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Posted in Economy | Tagged , | 3 Comments

The Greatest Chart Ever

Via Benen, the CBPP has updated its famous “parfait” chart illustrating what’s driving the national debt between now and 2019 based on CBO estimates from last month. And, shocker!, the chart looks about the same as it always has. Because, … Continue reading
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Posted in Economy | Tagged , | 3 Comments

The Sequestration Fight Is Based on Lies and Stupidity

My Tuesday column: As a political writer, being pissed off about certain issues and policies is like rocket fuel. I’m not an angry guy by nature, but there’s a universe of things in politics that piss me off and, combined … Continue reading
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Posted in Economy, The Daily Banter | Tagged , , | 4 Comments